AttorneyBritt
Gary L. Britt, CPA, J.D.
Attorney At Law
1200 Abernathy Road
Northpark Center 600
Suite 1700
Atlanta, Georgia 30328
404-567-6445
Gary L. Britt, CPA, J.D., Attorney At Law, and the law firm of AttorneyBritt serves the legal needs of businesses, individuals, professionals, partners, corporations, limited liability companies, partnerships, estates, and trusts throughout Georgia and the Atlanta Metropolitan Area.
The law firm of AttorneyBritt acts as lawyer, trusted advisor and business planner for clients from Fulton, DeKalb, Cobb, Bartow, Cherokee, Gwinnett, Hall, and Tift counties Georgia, with offices located in Atlanta, Georgia, Sandy Springs - Dunwoody, Georgia, Duluth, Georgia, and Tifton, Georgia.
Business Lawyers And Attorneys: Estate Planning, wills, trusts, estate administration, and litigation, including construction disputes and lawsuits, homebuilder and architect disputes, and litigation, contract disputes and litigation, and other lawsuits and litigation; Representation for buying or selling a business, mergers and acquisitions, buy-sell agreements, shareholder and partner agreements, and other contracts, and agreements of all types; Employment contracts, agreements, and disputes.
The law firm of AttorneyBritt in Atlanta, Georgia listens carefully to our clients and provides quality legal representation in the areas of business law, real estate, home defects, construction law, probate, tax law, wills, trusts, estates, probate, and estate litigation. The law firm of AttorneyBritt and Gary L. Britt, CPA, J.D., Attorney At Law, serve clients in the Atlanta metro area, including without limitation Alpharetta, Fairburn, Roswell, Sandy Springs, Buckhead, Decatur, Lithonia, Druid Hills, Dunwoody, Tucker, Marietta, Smyrna, Vinings, Duluth, Acworth, Cartersville, Fayetteville, Marietta, Suwanee, Lawrenceville, Buford, Norcross, Morrow, Riverdale, Canton, Milton, John's Creek and other cities throughout North Georgia and located in:
Fulton County | DeKalb County | Cobb County | Bartow County | Gwinnett County | Hall County | Fayette County | Cherokee County | Douglas County | Clayton County
Saturday, May 2, 2009
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2 comments:
After my father died, my elderly mother sold a large piece of property and reinvested that money back in several pieces of real estate almost 4 years ago. It was in a 1031 exchange I think it was called.
I have a question concerning a tax deferred 1031 land exchange, can she sell just one of those pieces of property that she reinvested 4 yrs. ago in and reinvest it again in another property without messing up the original 1031 tax deferal?
I would appreciate any insite in this.
Thank you,
Joan
Email: joanseaton58@aol.com
Yes she can. As long as the prior 1031 exchange is complete (meaning that the property was sold and the replacement property was timely acquired) which your comment indicates is the case. Then I believe after 4 years she could certainly sell part of the replacement property in another 1031 exchange.
You must use an experienced 1031 exchange intermediary to do the new sale. You absolutely should consult with one prior to making the sale of the property, they can go over all the rules in detail with you.
Your CPA or local banker, among other sources, could help you locate a qualified 1031 intermediary. All the big banks provide these kinds of services, I believe, and there are many private intermediary companies as well.
Gary Britt
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