Top Ithaca, NY 1031 Exchange Lawyers Near You
100 Madison Street, AXA Tower - 1, Suite 1640, Syracuse, NY 13202
5786 Widewaters Pkwy, Syracuse, NY 13214-1855
238 W Division St, Syracuse, NY 13202
119 E Seneca Street, Ithaca, NY 14850-4352
307 N Tioga St, Ithaca, NY 14850
53 Genesee Street, Auburn, NY 13021
217 South Salina Street, Seventh Floor, Syracuse, NY 13202
440 S. Warren Street, Suite 400, Syracuse, NY 13202
317 Montgomery St, Syracuse, NY 13202
507 Plum Street, Suite 310, Syracuse, NY 13204
170 Main St, Groton, NY 13073
120 Madison St, 16th Floor, Tower 2, Syracuse, NY 13202
126 North Salina Street, Suite 400, Syracuse, NY 13202-1019
892 E Brighton Ave, Suite 1, Syracuse, NY 13205
503 E Washington St, Syracuse, NY 13202
250 S Clinton St Ste 502, Syracuse, NY 13202
200 Elwood Davis Rd, Liverpool, NY 13088
507 Plum Street, Suite 300, Syracuse, NY 13204
109 S Warren St, Suite 709, Syracuse, NY 13202
7741/2 State Fair Blvd, Syracuse, NY 13209-1303
PO Box 152, Baldwinsville, NY 13027
110 Genesee St, Po Box 549, Auburn, NY 13021
430 S Main St, Syracuse, NY 13212
100 Genesee St, Auburn, NY 13021
949 County Route 53, Oswego, NY 13126
Ithaca 1031 Exchange Information
Lead Counsel Verified Attorneys in Ithaca
Lead Counsel independently verifies 1031 Exchange attorneys in Ithaca and checks their standing with New York 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 Ithaca?
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 New York?
- 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