- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1031 help
Posted on 2/2/24 at 4:04 pm
Posted on 2/2/24 at 4:04 pm
I paid cash for a property in Arkansas in November of last year. I am now selling a piece of property, my question is, can I use that money on property I paid cash for from a Louisiana property that I’m selling? Also, am I already out of time for the 1031 window?
3
Posted on 2/3/24 at 10:54 am to Duffnshank
I would think so..you need an attorney for the paperwork and or escrow.
Posted on 2/3/24 at 11:05 am to Duffnshank
quote:
can I use that money on property I paid cash for from a Louisiana property that I’m selling
Yes.
When you sell your property in Arkansas, you have less than 45 days to find a new property and 180 days to close on the property.
Posted on 2/4/24 at 10:46 am to Duffnshank
I’ve done a 1031 three times. You have to designate that the property is going to be a 1031 when you list it. You personally can never take possession of the money. I use a company out of Miami called Starker. You pay them a couple grand to hold your money. You have 45 days from time of sale to designate what you are going to buy and you have like 190 days to close. Most realtors have 1031 experience and even if they don’t a company like Starker will walk them through the process. The important take away is you start the process before you sell not after.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News