1031 Exchange Basics in Cortlandt Manor, NY

1031 Exchange Like Kind Property in Cortlandt Manor, NY

Understanding the Fundamentals in Cortlandt Manor, NY

A 1031 exchange is one of the most powerful tools available to real estate investors in Cortlandt Manor, NY, allowing you to defer capital gains taxes when selling an investment property in Cortlandt Manor, NY and reinvesting in another. This strategy enables you to preserve more of your capital, build wealth, and expand your real estate portfolio without the immediate tax burden.

We simplify the exchange process in Cortlandt Manor, NY, ensuring you stay compliant with IRS regulations while maximizing your investment potential.

What Is a 1031 Exchange in Cortlandt Manor, NY?

A 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows investors in Cortlandt Manor, NY to sell one investment property in Cortlandt Manor, NY and purchase another of equal or greater value without paying immediate capital gains tax. Instead of cashing out and triggering a taxable event, your proceeds are transferred to a Qualified Intermediary (QI)—like us—who holds the funds until you acquire a replacement property.

By deferring taxes, you can reinvest 100% of your proceeds in Cortlandt Manor, NY, giving you more purchasing power for your next investment.

Tax benefits of a 1031 exchange in Cortlandt Manor, NY
Qualified Intermediary holding funds in Cortlandt Manor, NY

How Does a 1031 Exchange Work in Cortlandt Manor, NY

Plan Your Exchange in Cortlandt Manor, NY

Before selling your property in Cortlandt Manor, NY, consult with a 1031 exchange expert to ensure your transaction is properly structured.

Sell Your Property in Cortlandt Manor, NY

Once your property sells, the proceeds are transferred to a Qualified Intermediary in Cortlandt Manor, NY—not directly to you—to maintain compliance with IRS rules.

Identify a Replacement Property in Cortlandt Manor, NY

Within 45 days of selling your original property in Cortlandt Manor, NY, you must identify one or more potential replacement properties in writing in Cortlandt Manor, NY.

Purchase the Replacement Property in Cortlandt Manor, NY

You have 180 days from the sale of your original property to close on the new property using the proceeds held by your QI in Cortlandt Manor, NY.

Complete the Exchange & Defer Taxes in Cortlandt Manor, NY

By following IRS rules and deadlines, you successfully defer capital gains tax and reinvest in a new property in Cortlandt Manor, NY without losing money to taxes.

Key 1031 Exchange Rules & Requirements in Cortlandt Manor, NY

  • Like-Kind Requirement

    – The replacement property in Cortlandt Manor, NY must be of the same nature (investment or business use real estate).

  • 45-Day Identification Rule

    – You must identify potential replacement properties within 45 days in Cortlandt Manor, NY of selling your original property.

  • 180-Day Exchange Rule

    – You must close on the new property within 180 days of selling your original property in Cortlandt Manor, NY.

  • Qualified Intermediary (QI) Requirement

    – Funds must be held by a third-party intermediary in Cortlandt Manor, NY to ensure IRS compliance.

  • Equal or Greater Value Rule

    – To defer all taxes, the new property in Cortlandt Manor, NY must be of equal or greater value than the one sold.
Real estate investor in Cortlandt Manor, NY
IRS 1031 exchange rules in Cortlandt Manor, NY

Types of 1031 Exchanges in Cortlandt Manor, NY

  1. 1

    Forward Exchange (Traditional 1031 Exchange) – Sell your property first, then purchase the replacement property in Cortlandt Manor, NY within the IRS deadlines.

  2. 2

    Reverse Exchange – Acquire the replacement property in Cortlandt Manor, NY before selling the existing one for greater flexibility.

  3. 3

    Build-to-Suit (Construction Exchange) – Use exchange proceeds to improve or build on the replacement property in Cortlandt Manor, NY.

  4. 4

    Delayed Exchange – The most common type, where funds are held by a Qualified Intermediary in Cortlandt Manor, NY while you find a replacement.

  5. 5

    Simultaneous Exchange – The sale of the relinquished property and purchase of the replacement occur on the same day.

Benefits of a 1031 Exchange in Cortlandt Manor, NY

A 1031 exchange allows real estate investors in Cortlandt Manor, NY to defer capital gains taxes, keeping more money working for them instead of paying it to the IRS. By reinvesting 100% of the proceeds, investors gain more buying power, making it easier to upgrade to a larger or better-performing property in Cortlandt Manor, NY.

This strategy also helps with portfolio growth and diversification in Cortlandt Manor, NY, allowing investors to explore new markets, property types in Cortlandt Manor, NY, or higher-value assets. Additionally, a 1031 exchange offers estate planning benefits, reducing tax burdens for heirs while enabling long-term wealth accumulation without IRS penalties.

Benefits of a 1031 Exchange in Cortlandt Manor, NY
Common 1031 Exchange Mistakes to Avoid in Cortlandt Manor, NY

Common 1031 Exchange Mistakes to Avoid in Cortlandt Manor, NY

  1. Missing IRS Deadlines – The 45-day and 180-day rules in Cortlandt Manor, NY are strict.

  2. Touching the Sale Proceeds in Cortlandt Manor, NY – If you take possession of the funds, you’ll owe taxes.

  3. Choosing an Unqualified Intermediary in Cortlandt Manor, NY – A trusted QI ensures compliance and security.

  4. Failing to Meet the Like-Kind Rule – Make sure your replacement property qualifies under IRS guidelines.

  5. Not Reinvesting Enough – If you buy a lower-value property, you may owe partial capital gains tax.

Why Choose 1031 Exchange Network in Cortlandt Manor, NY?

  • No-Fee Exchanges – Keep more of your money in Cortlandt Manor, NY—$0 upfront fees and interest-bearing accounts.
  • Security & Compliance – Funds held in segregated FDIC-insured accounts in Cortlandt Manor, NY for ultimate safety.
  • Available 7 Days a Week – Get expert guidance when you need it, from 8 AM–Midnight (EST).
  • 50+ Years of Expertise – Attorneys, CPAs, and exchange specialists in Cortlandt Manor, NY guiding every transaction.
  • Nationwide Service – We facilitate 1031 exchanges across all 50 states in Cortlandt Manor, NY.
Why Choose 1031 Exchange Network in Cortlandt Manor, NY?
Get Started with a 1031 Exchange Today
Get Started with a 1031 Exchange Today in Cortlandt Manor, NY

The 1031 exchange process in Cortlandt Manor, NY doesn’t have to be complicated—especially when you have the right partner. We make it seamless, secure, and fee-free so you can focus on growing your real estate investments in Cortlandt Manor, NY.

Start Your Exchange Schedule a Free Consultation