Connecticut 1031 Exchange Qualified Intermediary Law

New Law Provides Consumer Protection for Investors

The State of Connecticut has enacted a new law regulating qualified intermediaries who facilitate tax deferred exchanges under IRC Section 1031. The law applies to 1031 exchanges in which the relinquished property is located in Connecticut. Public Act 13-135 (the “Act”), which becomes effective on October 1, 2013, generally tracks the Model Act promoted by the Federation of Exchange Accommodators, a trade organization representing many professional qualified intermediaries.

The Act provides several protections for exchangers who engage a qualified intermediary to facilitate a 1031 exchange transaction covered by the Act. Although the full text of this law can be seen at An Act Concerning Banks, Loan Production Offices, Exchange Facilitators, Public Deposits and Real Property Tax Liens (see sections 5 through 12), some important highlights are reflected in this article, Read More…

custom 1031 exchange materials

Below are links to other states that have enacted laws regulating qualified intermediaries who facilitate tax deferred exchanges:

» California Qualified Intermediary Law

» Colorado Qualified Intermediary Law

» Nevada Qualified Intermediary Law

» Washington Qualified Intermediary Law

» Virginia Qualified Intermediary Law

New PLR: EAT Not Considered a Disqualified Person in an Exchange

In PLR 201332010, the IRS rules that an exchange  accommodation titleholder (EAT) was not considered a disqualified person as a result of providing services for the
exchanges related to State-provided incentives for trade-ins. Read More…

1031 Basics: Reverse Exchange Comparison

Reverse Exchange Comparison

The need for a §1031 reverse exchange arises when circumstances require that the replacement property be acquired before closing on the relinquished property. Often exchangers may need to perform a reverse exchange in a “sellers market” where recently listed properties are quickly under contract with a buyer. To read a comparison of the two different reverse exchange parking arrangement formats and the positives and negatives of parking the replacement property versus parking the relinquished property, Read More…

Best and Worst Multi-Family Rent Growth Markets This Year

The pressure on residential rental rates was positive in each of the 50 largest markets in the U.S. in 2012, according to MPF Research, as published in MultiFamily Executive. There are many other factors, however, impacting demand and ultimately rents: unemployment rates, local inventory of multifamily and single family for-rent properties, changes in income, new construction, and home prices, to name a few.

So which markets were the best and the worst for rent growth? Read More…

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America’s 10 Most Overvalued and Undervalued Markets

Fitch Ratings compiled this list of the five most overvalued and five most undervalued housing markets, broken down as Metropolitan Statistical Areas, based on its quarterly Sustainable Home Price model, which weighs home price trends against the economic fundamentals of the local market, including income growth, unemployment rates, population growth, mortgage rates, rental prices, buyer demand and inventory levels. The ratings are adjusted for inflation and compared current prices to their pre-bubble historical norms. Read More…

Webinar: Exchanges & Tax Planning in an Environment of Increasing Taxation

This 1.5 hour CPE course provides a concise and thorough overview of IRC Section 1031 tax deferred exchanges for accountants, CPAs and financial advisors. In addition to covering critical IRS time deadlines, “like-kind” requirements and other exchange related issues, the class will provide a summary of current developments including applicable Revenue Rulings, PLR’s and other IRS guidance on current issues related to exchanges. Register Now…

Dates: September 23rd
Time: 10:00 a.m. – 11:30 p.m.
Cost: Free
Credit: 1.5 Hours (CPE)

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