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1031 Like-Kind Exchange1
Take Advantage of a 1031 Like- Kind Exchange
Before selling a business or investment property, it's important to consider the benefits of a 1031 exchange. Under Section 1031 of the Internal Revenue Code, investment or business property owners, through the use of a Qualified Intermediary, can sell property and purchase similar "like-kind" property while deferring capital gain taxes. Property owners will benefit from a 1031 exchange in several ways:
• No immediate tax obligation
• Improved cash flow is realized by deferring payment of capital gain taxes
• Consolidate or diversify property holdings
How We Can Assist You with a 1031 Exchange Agreement
We can provide you access to 1031 Exchanges services through our affiliate, Wachovia Bank, N.A. Wachovia's primary role is to act as the Qualified Intermediary, an independent third party, who receives and holds the exchange proceeds generated by the sale of the relinquished property.
Wachovia has become the Qualified Intermediary of choice for individual taxpayers and prominent corporations, for whom security of funds and a commitment to service are primary considerations. Contact your Financial Advisor to learn more about 1031 exchanges and Wachovia's Qualified Intermediary program.
1 1031 Like Kind Exchanges are offered through Wachovia Bank, National Association, separate affiliates of Wachovia Securities, LLC and subsidiary of Wachovia Corporation.
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