Top Maywood, IL 1031 Exchange Lawyers Near You
Contact a Boone County Real Estate and Short Sales Attorney
33 N LaSalle Street, Suite 2900, Chicago, IL 60602
10231 South Western Avenue, 1st Floor, Chicago, IL 60643
1 South Dearborn Street, Suite 1500, Chicago, IL 60603
223 W. Jackson Blvd, Suite 610, Chicago, IL 60606
1200 Harger Road, Suite 209-210, Oak Brook, IL 60523
77 W Wacker Dr, Suite 4500, Chicago, IL 60601
221 N LaSalle St, Suite 3500, Chicago, IL 60601
1133 W Van Buren St, Chicago, IL 60607
205 N Michigan Ae, Suite 4240, Chicago, IL 60601
227 W Monroe St, Suite 4700, Chicago, IL 60606
20 South Clark Street, Suite 2310, Chicago, IL 60603
55 W. Monroe, Suite 1600, Chicago, IL 60603
1580 S Milwaukee Ave, Suite 302, Libertyville, IL 60048
216 W. Higgins Road, Park Ridge, IL 60068
225 W. Washington, Suite 1300, Chicago, IL 60606
85 W. Algonquin Road, Suite 420, Arlington Heights, IL 60005
125 South Wacker Drive, Suite 300, Chicago, IL 60606
300 East 5th Avenue, Suite 365, Naperville, IL 60563
100 N Riverside Plaza, Suite 2400, Chicago, IL 60606
55 W. Monroe, Suite 1925, Chicago, IL 60603
11 South Dunton Avenue, Arlington Heights, IL 60005
227 W Monroe St, Suite 3600, Chicago, IL 60606
181 N. Hammes Avenue, Joliet, IL 60435
227 W. Monroe, Ste. 2650, Chicago, IL 60606
200 West Madison Street, Suite 3200, Chicago, IL 60606
Maywood 1031 Exchange Information
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Lead Counsel independently verifies 1031 Exchange attorneys in Maywood and checks their standing with Illinois bar associations.
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Ample Experience
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Be in good standing with their bar associations and maintain a clean disciplinary record.
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What Is a 1031 Exchange?
A “1031 exchange” refers to section 1031 of the U.S. Internal Revenue Code, which allows you to defer capital gains taxes on some real estate transactions. Also known as a “tax-deferred exchange,” you will be able to defer any capital gains taxes when selling a home as long as you are buying another home that costs more. You can also do this for business property investment. Many property exchanges qualify as a 1031 exchange as long as you are holding the property for investment or business use, giving you significant tax savings.
What Are Some Examples of Situations Where I Might Need a Real Estate Lawyer To Help With a 1031 Exchange?
While a common tax savings tactic for real estate investors, making sure your 1031 exchange goes smoothly may require a lawyer’s attention to detail and knowledge of the law. Consult with your real estate lawyer if you are considering purchasing a new piece of real estate investment property or seeking a new business property.
How Can a Real Estate Lawyer Help Me?
A real estate lawyer can help you through the real estate process. With so much money on the line, it is wise to work with a lawyer to protect your investment. A real estate lawyer can help with:
- Breach of contract claims
- Property insurance claim denials
- Title disputes
- Zoning restrictions
- HOA restrictions
- Negotiating commercial lease agreements
- Handling property tax matters
What Could Happen if I Don’t Hire a Real Estate Lawyer?
If you don’t hire a real estate lawyer, you could be putting your home or business at risk. Problems with a real estate deal can quickly spiral out of control, costing you tens of thousands of dollars or more. Property ownership or title disputes can cost you your home. Without a real estate lawyer, you could face:
- Property and zoning restrictions
- Property tax penalties
- Breach of contract claims
- Environmental remediation costs
What Questions Should I Ask When Trying To Find a Real Estate Lawyer in Maywood?
These questions can help you decide if you feel comfortable and confident that a lawyer has the qualifications, experience, and ability to manage your case. Many real estate lawyers offer an initial consultation that allows you to understand your options and get specific legal advice before hiring them. The top questions to ask include:
- What is your experience in handling real estate cases in Illinois?
- Have you represented property owners in cases like mine?
- What are potential issues that can come up during the property purchase?
- How will you keep me informed about updates in my case?
- What is the likely timeline for resolving my case?
- What is your fee structure for legal representation?
Tips for Hiring a Real Estate Lawyer
Take the time to find a real estate attorney who is right for you and will represent your best interests. Find a lawyer who understands your case, knows your needs and goals, and has the experience to get the best outcome. Things to do:
- Ask for recommendations
- Research lawyers online
- Schedule consultations
- Review experience and expertise
- Talk about fees and billing
- Trust your instincts