Top Somers, NY 1031 Exchange Lawyers Near You
We counsel our clients from purchase to sale with their residential and commercial properties, protecting our clients' interests.
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11 Riverside Drive, New York, NY 10023
74 Lincoln Ave, Staten Island, NY 10306
7 Knickerbocker Rd S, Plainview, NY 11803-3728
462 Seventh Ave, 12th Floor, New York, NY 10018
20 W 20th St, Suite 504, New York, NY 10011
3 Barker Ave, Suite 405, White Plains, NY 10601
950 3rd Ave, Suite 3101, New York, NY 10022
150 E 52nd St, 26th Floor, New York, NY 10022
745 5th Ave, Suite 500, New York, NY 10151
182A 26th St, Suite 2R, Brooklyn, NY 11232
7158 Austin Street, Suite 104, Forest Hills, NY 11375
52 Duane Street, 7th Floor, New York, NY 10007
200 Old Country Rd Ste 190, Mineola, NY 11501
800 Westchester Avenue, Suite N-613, Rye Brook, NY 10573
222 North Main Street, New City, NY 10956
555 Madison Avenue, 11th Floor, New York, NY 10022
370 Lexington Ave, Suite 800, New York, NY 10017
95-20 63rd Road, Suite L, Rego Park, NY 11374
250 Vesey Street, New York, NY 10281-1047
140A Washington Ave, Suite 203, Cedarhurst, NY 11516
292 Warren St, Brooklyn, NY 11201-6413
1341 Ocean Parkway, Brooklyn, NY 11230-5655
70 Charles Lindbergh Blvd, Suite 201, Uniondale, NY 11553
8302 13th Avenue, Brooklyn, NY 11228-3045
11 Broadway, Suite 715, New York, NY 10004
Somers 1031 Exchange Information
Lead Counsel Verified Attorneys in Somers
Lead Counsel independently verifies 1031 Exchange attorneys in Somers 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 Somers?
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