Top New Bedford, MA 1031 Exchange Lawyers Near You
246 Andover Street, Unit 101, Peabody, MA 01960
223 Lewis Wharf, Boston, MA 02110
892 Plain Street, 2nd Floor, Marshfield, MA 02050
8 Winchester Place, Suite 306, Winchester, MA 01890
90 New State Highway, Raynham, MA 02767
35 Braintree Hill Office Park, Suite 404, Braintree, MA 02184
21 Mayor Thomas J McGrath Hwy, Quincy, MA 02169
81 Samoset Street, Plymouth, MA 02360
27 Mica Lane, Suite 100, Wellesley, MA 02481
One Tech Dr, Ste 205, Andover, MA 01810
200 Cordwainer Dr, Suite 201B, Norwell, MA 02061
21 Custom House Street, Boston, MA 02210
One Liberty Square, Ste 1210, Boston, MA 02109
60 State Street, Suite 1525, Boston, MA 02109
176 Federal Street, 6th Floor, Boston, MA 02110
100 Cambridge St, 22nd Floor, Boston, MA 02114
15 Broad Street, Suite 900, Boston, MA 02019
One International Place, Suite 3700, Boston, MA 02110
678 Massachusetts Avenue, Suite 600, Cambridge, MA 02139
401 Edgewater Place, Suite 630, Wakefield, MA 01880
92 State Street, Boston, MA 02109
1200 Walnut Street, Newton, MA 02461
250 First Ave, Suite 302, Needham, MA 02494
84 State St, Suite 820, Boston, MA 02109
50 Congress Street, Suite 400, Boston, MA 02109
New Bedford 1031 Exchange Information
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Lead Counsel independently verifies 1031 Exchange attorneys in New Bedford and checks their standing with Massachusetts bar associations.
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Ample Experience
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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 New Bedford?
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 Massachusetts?
- 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