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1031 Exchange for Charlottesville - and Albemarle Real Estate

A Section1031 Exchange offers you, as an investment property owner, the opportunity to purchase replacement property and defer the federal and state capital gains taxes due as a result of the transaction. IRS Code Section 1031 requires that you sell your current investment property and purchase a similar (“like kind”) property(s) through a qualified intermediary to take advantage of this tax deferment. There are other, more exotic, investment property tax deferment sections in the tax code, but Section 1031 is the most widely used and understood.

Any real property held for investment or used for business purposes may be exchanged. These include, but are not limited to, rental property, apartments, industrial property, office buildings, and unimproved land held for investment.

The Charlottesville, Virginia real estate market and those of surrounding areas including Albemarle County and Wintergreen Resort offer many opportunities for 1031 Exchange transactions. If you are interested in taking advantage of the 1031 Exchange, we will help you find the right property to fit your financial situation.

Section 1031 Exchange transactions have specific requirements in terms of deadlines and filing the proper paperwork. We have years of experience working with Charlottesville real estate 1031 transactions and we are available to guide you through the process. For more information about investing in real estate in the Charlottesville area and employing a 1031 exchange, please email us or call (434) 296-9860.

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Contact The Chase Team
Phone: (434) 296-9860
(877) 296-9860
Fax: (877) 281-6785

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Among the many, many moves that Linda and Carl Detrick have had over 40 years, they rank Lauri as one of only two competent real estate professionals they've ever worked with!
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Jan and I just wanted to take a moment to thank you again for your invaluable assistance during our recent purchase of a home in Charlottesville.
Because they lived a couple of hours away, it was especially important for Sharon and Timer Keenan to have an organized, proactive real estate professional on their side...
When Jim and Suzanne Cassidy were looking for a home to buy in another town, they chose Lauri to help find the right one for them. They couldn't be happier with their choice.
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