1031 On Land Split From Original Parcel? - Posted by Dazed and Confused

Real Estate Investing Real Estate Law
1

Posted by Dazed and Confused on April 18, 2005 at 08:42:16:

Thanks, I thought so.

Dazed.

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1031 On Land Split From Original Parcel? - Posted by Dazed and Confused

Posted by Dazed and Confused on April 14, 2005 at 16:43:42:

I’ve got a rental property on about 2 acres land. The house sits in a corner 1/4 and I’ve got a buyer for the empty 3/4 of the parcel.

I’m assuming that if I sell the empty 3/4 parcel I’m gonna need to do an exchange or get hit on the cap gains, right?

Thanks,
Dazed

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Re: 1031 On Land Split From Original Parcel? - Posted by William L Exeter

Posted by William L Exeter on April 17, 2005 at 23:34:36:

Yes, you are correct. It is important that the entire lot prior to the split was treated as rental or investment property.