Top New Bedford, MA 1031 Exchange Lawyers Near You
40 Grove Street, Suite 280, Wellesley, MA 02482
160 Gould Street, Suite 320, Needham, MA 02494
635 Massachusetts Avenue, Suite R, Arlington, MA 02476
980 Washington Street, Suite 123, Dedham, MA 02026
78 Hardwick Rd, Ashland, MA 01721
5 Bowser Rd, Lexington, MA 02420
100 State St, Suite 900, Boston, MA 02109
365 Broadway, Everett, MA 02149
9 Cortland Road, Sharon, MA 02067
133 Washington Street, Salem, MA 01970
121 Mount Vernon St, Boston, MA 02108
935 Main Street, Waltham, MA 02451
185 Devonshire Street, Third Floor, Boston, MA 02110
44 School Street, 9th Floor, Boston, MA 02108
11 Apex Drive, Suite 300A, Marlborough, MA 01752
1500 District Ave, Burlington, MA 01803
49 Causeway St, Boston, MA 02114
96 Cottage Street, Hudson, MA 01749
411 Waverley Oaks Rd, Ste 337, PO Box 540540, Waltham, MA 02454
6 Harris Street, Newburyport, MA 01950
200 Highland Ave, 302, Needham, MA 02494
40 Grove St., Suite 190, Wellesley, MA 02482
761 Broadway, Somerville, MA 02144
1881 Worcester Road, Suite 200, Framingham, MA 01701
115 Orchard Street, New Bedford, MA 02740
New Bedford 1031 Exchange Information
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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