Top Murphy, MO 1031 Exchange Lawyers Near You
211 North Broadway, Suite 1295, St. Louis, MO 63102
141 N. Meramec, Suite 201, St. Louis, MO 63105
222 South Central Ave, Suite 600, St. Louis, MO 63105
7777 Bonhomme Ave, #1900, St. Louis, MO 63105
600 Washington Avenue, Suite 900, St. Louis, MO 63101
8000 Maryland Avenue, Suite 640, St. Louis, MO 63105
903 S Lindbergh Blvd, Suite 200, St. Louis, MO 63131
120 S Central Ave, Suite 1600, Clayton, MO 63105
8182 Maryland Ave, 15th Floor, St. Louis, MO 63105
100 S 4th St, Suite 900, St. Louis, MO 63102
8001 Forsyth Blvd, Suite 1500, Clayton, MO 63105
190 Carondelet Plaza, Suite 1400, Clayton, MO 63105
4512 West Pine Blvd., St. Louis, MO 63108
415 North Tenth Street, Suite 200, St. Louis, MO 63101
10401 Clayton Rd, Suite 200, Frontenac, MO 63131
701 Market St, Suite 1505, St. Louis, MO 63101
701 Market Street, Suite 260, St. Louis, MO 63101
168 N Meremec Ave, Suite 101, St. Louis, MO 63105
7711 Carondelet Ave, Suite 800, St. Louis, MO 63105
5933 MO-94, Suite 200, Weldon Spring, MO 63304
75 W Lockwood Avenue, Suite 1, St. Louis, MO 63119
230 S. Beminston Ave, Suite 730, St. Louis, MO 63105
101 S Hanley Rd, Suite 1450, St. Louis, MO 63105
800 Market Street, Suite 2100, St. Louis, MO 63101
34 North Meramec Avenue, Suite 600, St. Louis, MO 63105
Murphy 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 Murphy?
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 Missouri?
- 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