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Lapel, In | Been there, done that, 8 years ago. The best advice I can offer is to find an attorney that is VERY WELL versed in the 1031 law. Most attorneys are not a good source of knowledge on the subject. Any little blip and you are out of compliance and not much of a way to correct anything after the fact.I personally think the newer 1031s will be scrutinized with a fine tooth comb as the government's appetite for tax dollars grows by the day. Have even seen CPAs argue over points of the law.
Edited by msb 4/8/2010 10:38
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1031 reverse exchange
