This column is going to deal with the exemption rules above and how you may be able to bend them or waive them altogether. Does not eliminate the duties of the Qualified Intermediary to acquire and transfer the relinquished property and acquire and transfer the Replacement Property. As you can see, there are some large differences among these rates. You must have lived in the home as your primary residence for two of the last five years.

The Exchanger is the only one that needs to sign this form. Interest earned during the exchange, payable at the end. Under the old law you could roll over gains if you bought a more expensive house. Explains what you need to know in a simple easy to understand format. In the regulations of 1991, many of the areas were clarified in Section 1031 of the Internal Revenue Code, and established the Safe Harbor provisions. Timing for those sellers sitting on the fence could mean more money made.