Top Norfolk, VA 1031 Exchange Lawyers Near You
5712 Cleveland Street, Suite 130, Virginia Beach, VA 23462
5425 Discovery Park Blvd, Suite 200, Williamsburg, VA 23188
222 Central Park Avenue, Suite 400, Virginia Beach, VA 23462
1100 Volvo Parkway, Suite 340, Chesapeake, VA 23320
300 George Washington Hwy N, Chesapeake, VA 23323
101 W Main St, Suite 440, Norfolk, VA 23510
487 McLaws Circle, Suite 2, Williamsburg, VA 23185
249 Central Park Avenue, Suite 300-91, Virginia Beach, VA 23462
2809 South Lynnhaven Road, Suite 160, Virginia Beach, VA 23452
500 Viking Drive, Suite 202, Virginia Beach, VA 23452
2600 Barrett Street, Suite 101, Virginia Beach, VA 23452
1081 19th Street, Suite 202, Virginia Beach, VA 23451
500 East Main Street, Suite 1225, Norfolk, VA 23510
300 E Main St, Suite 300, Norfolk, VA 23510
485 McLaws Circle, Williamsburg, VA 23185
4500 Main St, Suite 620, Virginia Beach, VA 23462
150 Boush Street, Suite 401, Norfolk, VA 23510
606 Thimble Shoals Blvd, Building A, Suite 3, Newport News, VA 23606
3333 Virginia Beach Blvd, Suite 24, Virginia Beach, VA 23452
222 Central Park Ave, Suite 1300, Virginia Beach, VA 23462
200 North Main St, Suffolk, VA 23434
283 Constitution Dr, One Columbus Center, Suite 617, Virginia Beach, VA 23462
125 Saint Pauls Boulevard, Suite 201, Norfolk, VA 23510
2309 Trant Lake Drive, Virginia Beach, VA 23454
11817 Canon Boulevard, Suite 408, Newport News, VA 23606
Norfolk 1031 Exchange Information
Lead Counsel Verified Attorneys in Norfolk
Lead Counsel independently verifies 1031 Exchange attorneys in Norfolk and checks their standing with Virginia 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 Norfolk?
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 Virginia?
- 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