Top Bountiful, UT 1031 Exchange Lawyers Near You
8789 Highland Dr, Suite 200, Sandy, UT 84093
2455 East Parleys Way, Suite 320, Salt Lake City, UT 84109
170 South Main Street, Suite 950, Salt Lake City, UT 84101
1802 S Jordan Pkwy W, Suite 130, South Jordan, UT 84095
222 S. Main Street, Suite 2200, Salt Lake City, UT 84101
222 Main Street, 5th Floor, Salt Lake City, UT 84101
299 South Main, Suite 1300, Salt Lake City, UT 84111
15312 S Winged Trace Ct, Draper, UT 84020
299 South Main, Suite 1300, Salt Lake City, UT 84111
1446 Downing Avenue, Salt Lake City, UT 84105
465 South 400 East, Suite 100, Salt Lake City, UT 84111
620 J St, Salt Lake City, UT 84103
1430 E Yale Ave, Salt Lake City, UT 84105
1273 E Grayson Ct, Sandy, UT 84094
15 West South Temple, Suite 1200, Salt Lake City, UT 84101
234 E 2300 S, Kaysville, UT 84037
182 South 1950 East, Layton, UT 84040
4141 S. Highland Dr, Ste 225, Salt Lake City, UT 84124
8 E 300 S #550, Salt Lake City, UT 84111
111 South Main Street, Suite 2400, Salt Lake City, UT 84111
9533 South 700 East, Suite 201, Sandy, UT 84070
15 W S Temple, Suite 1600, Salt Lake City, UT 84101
320 S 500 E, Salt Lake City, UT 84102
15 West South Temple, Suite 1450, Salt Lake City, UT 84101
299 S Main St, Suite 1825, Salt Lake City, UT 84111
Bountiful 1031 Exchange Information
Lead Counsel Verified Attorneys in Bountiful
Lead Counsel independently verifies 1031 Exchange attorneys in Bountiful and checks their standing with Utah 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 Bountiful?
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 Utah?
- 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