1031 Rules    

Michigan 1031 Exchange Rules

Michigan 1031 Exchange Rules

Michigan 1031 Exchanges require an acquisition period of 180 days, during which the michigan investment real estate owner must identify potential properties for the exchange (within 45 days) and acquire said michigan investment real estate or michigan investment real estate. The acquisition period begins at the close of escrow on the relinquished michigan investment real estate. Furthermore, all michigan 1031 exchanges must adhere to one of the following rules:

  • The Three-Michigan Investment Real Estate Rule states that the exchanger must identify up to, but no more than three potential michigan investment real estate during the acquisition period.

  • The Two Hundred Percent Rule - This rule dictates that, if three or more replacement michigan investment real estate are chosen, their total aggregate value may not exceed 200% of the value of the acquired michigan investment real estate at its time of selling.

  • The Ninety-five Percent Exception - Finally, in the event that rules 1 and 2 are null and void, rule 3 takes precedence. This rule states that, if three or more replacement michigan investment real estate are used in the transaction, their total market value must comprise at least 95% of the value of the michigan investment real estate being relinquished.

    It is worthy to note that many michigan 1031 exchange michigan investment real estate owners are drawn to TIC exchanges due to the pre-approved financing options available.

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    Tenant in common (TIC) properties have become popular 1031 exchange solutions for investors seeking to defer capital gains taxes and free themselves from property management. A wide range of TIC properties exist for sale and www.1031michigan.com can provide you with access to the best TIC investment opportunities nationwide.

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    Wednesday, November 19, 2008