About 1031 Exchanges
IRC Section 1031 Exchanges
Internal Revenue Code §1031 allows deferred taxes on qualifying like-kind exchanges. A tax-deferred Section 1031 Exchange is one of the most powerful tax-saving strategies available for businesses and investors.
Normally, when you sell real property and a gain is made on the sale, the gain is taxable at the time of sale. However, if you are planning to reinvest in similar property, you can reap the benefits of deferring taxes if you exchange real properties instead.
Mission 1031 Exchange, LLC, a wholly-owned subsidiary of Mission Bancorp, was formed to facilitate Section 1031 property exchange transactions for our customers and the community at large. Regardless of where your property is located, we can facilitate your exchange because we are a nationwide qualified intermediary.
Features of our 1031 Exchange service:
- Deposits are held at an FDIC-insured bank because strength, security and safety are critical.
- Each exchange transaction is held in a segregated bank account with transaction accounting provided to the exchanger and a bank statement is mailed each month the transaction is active. You always know where your money is and how much you have.
- We require an exchanger's signed authorization to wire exchange funds, which are guaranteed and readily available for disbursement.
Why people choose Mission 1031 Exchange:
- Mission 1031 exchange transactions are conducted in compliance with all IRS regulations.
- We maintain membership in the Federation of Exchange Accommodators (FEA) and follow their strict code of ethics.
- Mission 1031 Exchange is local. We are headquartered in Bakersfield and have offices throughout California.
- We are available to consult with your attorney and/or financial advisor at no additional cost.
- Our detailed documentation, as well as our personal service, far exceed industry standards.
Let us help you comply with the IRS requirements, resolve any issues, and successfully complete your exchange.
Qualified intermediaries cannot give tax or legal advice to exchangers – consult with tax or legal professionals for additional assistance with 1031 exchanges.