Posted by Bill Taylor on March 14, 2004 at 16:43:57:
A 1031 is a tax law that allows you to sell a property and have the proceeds sent to an account that will be used to purchase replacement. You will have to follow guidelines that the govt has set. You have to hold the property for investment and you cannot use the law if you are flipping property. This law is only for an investor that has the intent of re-investing in additional property. You might look in the archives for a better explanation or go to Google and do a seach. Good luck it is a great way to build your assets, we use it all the time.