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1031 Exchanges Requirements & Rules

Section 1031 of the Internal Revenue Code allows qualified real estate owners to sell and reinvest in a property of “like kind” and defer the capital gains tax. Those who may benefit include:

  • Real estate developers
  • Oil and gas developers
  • Business owners selling one property to finance the purchase of another

BBVA Compass does not take title to a property but serves as a “qualified intermediary” or agent for the sale and reinvestment in a property of “like kind.”