Industry Leading Security
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Expert 1031 Advice.
Insist that your 1031 Exchange Advisor be a Licensed Lawyer or CPA
Contact Us.
415-484-3538
1031exchange@lawyers1031.com
1031 Exchange Qualified Intermediary
415-484-3535 | Chris@Marin1031.com
About Us
Based in Sausalito, California, Marin 1031, LLC provides expert 1031 exchange advice and services to clients. We are the preeminent experts in 1031 exchanges in the state of California, having extensive experience working with California exchangers and the California Franchise Tax Board.
Our firm is led by highly experienced tax attorneys who have been practicing 1031 exchange tax law for decades, and who understand how to navigate the complex intricacies involved in completing 1031 exchanges. Our president and founder is a former accountant and attorney who started his career at PricewaterhouseCoopers LLP at Deloitte Tax, LLP, and then spent nearly a decade as a partner at California’s premier 1031 exchange law firm. We believe that 1031 exchange qualified intermediary services should always be provided by experienced lawyers and CPAs.
We have completed billions of dollars in 1031 exchanges for clients, often using complex planning strategies such as:
- Drop and Swap (Partnership redemption or liquidation transactions)
- Swap and Drop (Partnershp tracking units – historic parntnership/LLC exchanges, with certian replacement properties being allocated or “tracked” to specific partners)
- Tenancy In Common Transactions (Undivided ownership interests in real property structured to qualify under IRC Section 1031)
- Partnership Divisions (Separating one partnership or LLC into two or more, so that each partnership can exchange separately or cash out)
- Delaware Statutory Trusts – “DSTs” (Fractional ownership in real property held through securitized trust interests utilizing Delaware trust structures)
While we provide 1031 exchange services nationwide, we are the leading experts in California 1031 exchanges. The California Franchise Tax Board is arguably the most difficult taxing authority in the country, and successfully navigating a 1031 exchange in California or with California taxpayers requires a strong knowlege of not only the law, but also the position of the California FTB on many issues relating to 1031 exchanges and their structures. We like to say, “if you can work in California under the scrutiny of the California FTB, you can work anywhere.”
Industry Leading Security
Major National Banks
We only bank with major US banks (e.g. Citi, HSBC, Barclays, Chase, Wells Fargo, US Bank, and Capital One). Many Qualified Intermediaries are subsidiaries of regional banks, which are subject to bank failures. By using only Major National Banks, we mitigate your risk to give you the confidence that your funds are safe throughout the entire exchange process.
Qualified Escrow Accounts
Every exchanger’s funds is desosited into a segregated bank account called a Qualified Escrow Account or “QEA.” Each client must provide written disbursement instructions to the bank to remove funds from the QEA. We can’t remove your funds without your approval. And you can call the bank anytime to verify the status of your funds on deposit.
Compliance with State Law
We comply with State Law in every state in which we do business, including meeting state insurance requirements. In many states, Qualified Intermediaries are not regulated. We comply with California law, which imposes strict requirements on Qualified Intermediaries.
1031 Exchange Basics
What is a 1031 Exchange?
An IRC §1031 exchange allows taxpayers to exchange real property held for productive use in a trade or business or held for investment into similar “like kind” real property.
By deferring gains, the taxpayer can use the deferred taxes as additional capital towards the purchase of replacement real property – equivalent to an interest free loan from the government.
Why Should You Consider a 1031 Exchange?
• Diversify Real Estate Holdings
• Defer Federal and State Capital Gains Taxes
• Defer Depreciation Recapture Taxes
• Consolidate/Relocate Real Estate Investments
• Reduce Management Obligations
• Increase Cash Flow
• Estate & Succession Planning
Critical 1031 Exchange Timeframes
There are two major deadlines in 1031 exchanges. If you miss these deadlines, it is fatal to your 1031 exchange:
1) 45-Day Identification Deadline: You must make a written identficiation of properties you are considering acquiring to us.
2) 180-Day Exchange Period: You must acquire your selected replacement property within 180 days from the date that you close the sale of your relinquished property.
Contact
415-484-3538
Info@Marin1031.com