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Online Manual

Like-Kind Real Estate Exchanges in Washington

Avoid problems and gain practical knowledge on like-kind exchanges today. A like-kind exchange can be a big money saver - it enables you to exchange one real estate investment for another and to potentially defer taxes. But you must know how to safely structure these exchanges to avoid adverse tax consequences. Purchase these reference materials and learn how to buy, own and dispose of real property. You will gain a better understanding of key real estate investment concepts - and the tools to use those concepts to your advantage. Protect your organization by staying updated on trends in documentation, as well as cutting-edge legal issues affecting like-kind exchanges. Benefits for You •Meet important §1031 deadlines - and avoid disqualification •Master the reverse exchange process - you may need to buy before you sell •Decipher the latest §1031 rulings and how they affect your organization •Avoid common misconceptions and problems encountered in the exchange process Learning Objectives •You will be able to describe recent state law changes. •You will be able to discuss deferred exchanges. •You will be able to explain reverse exchanges and parking arrangements. •You will be able to review how to avoid common problems.
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Agenda

Recent State Law Changes
— Dennis P. Helmick
Overview of Section 1031 and Terminology
  • Excluded Properties
  • Qualified Use Requirement
  • Vacation Homes and Conversions to and From Personal Residence
  • Like-Kind Requirement
Pros and Cons of Exchanges
Avoiding Common Problems
Washington Exchange Facilitator Law
Deferred Exchanges: Identification Requirements and Problems
What Realtors Should Know About 1031 Exchanges
— Lawrence S. Glosser
Deferred Exchanges
  • Multiple Parties and Properties
  • Using Qualified Intermediaries
  • Disqualified Persons
  • Related Party Exchanges
  • Constructive Receipt
  • Securing the Funds
Documentation for a Deferred Exchange
Personal Residence Exchange
Vacation Homes and 1031 Exchanges
Recent Industry Updates/Law Changes
— Mary B. Foster
Same Taxpayer Requirement
Related Party Exchanges
Calculating the Tax Effects on an Exchange
Seller Financing
Partnership Problems
Tenancies-in-Common
Reverse Exchanges and Parking Arrangements
— Mark E. Hodges, Esq.
  • Construction
  • Combination Forward and Reverse
  • Safe Harbor vs. Nonsafe Harbor
Personal Property Exchanges
  • Like Class Safe Harbor
  • Business Swaps
  • Program Exchanges
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Online Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Dennis P. Helmick

Dennis P. Helmick – Moderator

Exchange Facilitator Corporation

  • House counsel, Exchange Facilitator Corporation
  • 25 years as president and founder of Exchange Facilitator Corporation
  • Former board member and president, Federation of Exchange Accommodators (FEA)
  • As charter member of the Certified Exchange Specialist (CES™) Council helped write the certified exchange specialist industry-wide certification test
  • J.D. degree, University of Washington Law School, B.A. degree, University of Washington
  • Can be contacted at [email protected]
Mary B. Foster

Mary B. Foster

1031 Services, Inc.

  • President of 1031 Services, Inc.
  • Practice focuses on federal and state taxation
  • Co-writer of Tax Free Exchanges under IRC § 1031, published by Thomson Reuters/West Publishing; chair-elect of the American Bar Association Tax Section, Sales, Exchanges and Basis Committee; former board member and past president of the Federation of Exchange Accommodators; contributing writer to Merten’s Tax Guide, the Journal of Passthrough Entities, the New York University Tax Institute, the Business Law Journal, and the Journal of Accountancy
  • J.D. degree, University of California School of Law (Boalt Hall); B.A. degree, University of Michigan
  • Can be contacted at [email protected]
No photo available

Lawrence S. Glosser

Ahlers & Cressman, PLLC

  • Partner at the Seattle firm of Ahlers & Cressman, PLLC
  • Longtime involvement in the real estate industry as a broker, manager, developer and attorney
  • Focuses in all aspects of real estate transactions and financing
  • Brings entrepreneurial experience to the practice of law, enabling him to understand both the legal and business issues presented in each transaction
  • Assists clients with understanding and evaluating legal issues associated with business transactions, enabling clients to analyze risk and make informed business decisions
  • Former owner and managing member of Glosser Law Offices, PLLC located in Bellevue, Washington
  • J.D. degree, cum laude, Seattle University School of Law; B.A. degree, University of Cincinnati; M.A. degree, Hebrew Union College Los Angles
Mark E. Hodges, Esq.

Mark E. Hodges, Esq.

Real Estate Law Firm

  • Serves the Great Northwest as a Real Estate and §1031 Exchange lawyer since 1985
  • Concentrates on helping clients maximize tax advantages, minimize exposure to personal liability and optimize investment returns
  • Managing Director of RealTrust IRA Alternatives, LLC, serving as alternative asset custodian and administrator for fully self-directed IRA's and 401(k)'s
  • Wrote many articles and taught countless law-oriented continuing education courses for various professionals through his state-accredited Real Estate Law School®
  • J.D. degree, Seattle University School of Law; B.A. degree, Washington State University
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Product ID: 393198
Published 2014
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