Top Somerville, MA 1031 Exchange Lawyers Near You
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100 High Street, 21st Floor, Boston, MA 02110-1781
500 Boylston St, 20th Floor, Boston, MA 02116
6 Beacon St, Suite 600, Boston, MA 02108
69 Prospect St, #2, Somerville, MA 02143
40 Willard Street, Suite G101, Quincy, MA 02169
639 Granite Street, Suite 305, Braintree, MA 02184
1881 Worcester Rd, Suite 203, Framingham, MA 01701
151 Tremont St, Suite 26N, Boston, MA 02111
One Financial Center, Suite 1100, Boston, MA 02111
280 Main St., SUITE 104, North Reading, MA 01864
183 State Street, Suite 200, Boston, MA 02109
50 Federal Street, 5th Floor, Boston, MA 02110
59 Blue Hill Terrace, Milton, MA 02186
420 Boylston Street, Suite 610, Boston, MA 02116
175 Federal St, Suite 1500, Boston, MA 02110
20 Cabot Blvd, Suite 210, Mansfield, MA 02048
101 Arch Street, Suite 1101, Boston, MA 02110
348 Park Street, Suite 208 East, North Reading, MA 01864
One Beacon Street, Suite 25300, Boston, MA 02108
27 Harvard Street, Brookline, MA 02445
425 Pakachoag Street, Auburn, MA 01501
1359 Hancock Street, Suite 7, Quincy, MA 02169
867 Turnpike St, Suite 214, North Andover, MA 01845
2 Atlantic Avenue, Suite 600, Boston, MA 02110
24 Market Street, Amesbury, MA 01913
Somerville 1031 Exchange Information
Lead Counsel Verified Attorneys in Somerville
Lead Counsel independently verifies 1031 Exchange attorneys in Somerville and checks their standing with Massachusetts bar associations.
Our Verification Process and Criteria
Ample Experience
Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.
Good Standing
Be in good standing with their bar associations and maintain a clean disciplinary record.
Annual Review
Submit to an annual review to retain their Lead Counsel Verified status.
Client Commitment
Pledge to follow the highest quality client service and ethical standards.
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 Somerville?
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