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Real Estate
The Real Estate Adviser |
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April 26, 2007
The Real Estate Adviser: Be clear on rules for selling second home
By TOM KELLY
Special to the Journal
Special to the Journal
As popular as tax-free exchanges have become to investors and second home buyers, facilitators are still facing the basic questions that were asked two decades ago.
The Federation of Exchange Accommodators is a national trade organization formed in 1989 to represent qualified intermediaries and their primary legal and tax advisors who are directly involved in Section 1031 Exchanges, sometimes known as Starker Exchanges. At the recent FEA mid-year conference in Washington, D.C., attendees shared common challenges they faced regarding the 1031 Exchange industry. Vacation homes topped the list, even though the Internal Revenue Code is clear on the rules that differentiate a vacation or second home from investment property.
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Previous columns:
- The Real Estate Adviser: Long-term investors should look at homes, 04-19-2007
- The Real Estate Adviser: These days, it's sellers who hire an inspector, 04-12-2007
- The Real Estate Adviser: Let's not hammer all the subprime lenders, 04-05-2007
- Real Estate Advisor: Can't sell? Then try divine intervention, 03-29-2007
- The Real Estate Adviser: Four reasons real estate beats stock investments, 03-15-2007
- The Real Estate Adviser: Beware the pitfalls of seller financing, 03-08-2007
- The Real Estate Adviser: Off season best time to shop for 2nd home, 03-01-2007
- The Real Estate Adviser: Reverse mortgages come with fixed rates, 02-22-2007