David Moore of Equity Advantage, nationally recognized leader in 1031 Exchange facilitation, answers whether 1031 exchange options allow investors to exchange for property in another state. Moore explains what is involved in cross-state property exchanges, and whether one can purchase properties abroad.
Section 1031 is a federal tax code, so it is recognized in all states, so you can exchange from state to state. We regularly are dealing with transactions from our home state of Oregon and into California, Washington, and vice versa. We do a lot of transactions on the East Coast, including New York, New Jersey, Florida, and Maryland. – Tom Moore, Equity Advantage
If you’re thinking of selling your property, work with a broker who understands 1031 exchanges. Call René Nelson at 541-912-6583.