Exchanges

 

Section 1031 exchanges -

In addition to handling your traditional escrow transactions, Pennington Title Company is also equipped to work with you on any of your IRC Section §1031 Exchange needs. An IRC §1031 Tax-Deferred Exchange represents a legal, strategic method for acquiring or selling qualified property in exchange for "Like-Kind" properties within a specific time frame to defer capital gains taxes.

To calculate your TAX SAVINGS, please use our CAPITAL GAINS CALCULATOR.

 

The Qualified Intermediary

It is necessary to have a Qualified Intermediary to hold the proceeds safely until needed as the IRS stipulates you cannot be IN actual or constructive receipt of funds at any time during the exchange. Properly drafted intermediary paperwork is critical and defeats the problem of a taxable event in regard to the receiving the sale proceeds.
PENNINGTON TITLE COMPANY, as a disinterested party, qualifies for this role and has acted as a Q.I. since 1986.  We have been an accredited member of the Federation of Exchange Accommodators in the State of South Dakota for over 10 years.
Jan Kirch, Vice President, is currently the only Certified Exchange Specialist (CES) in South Dakota. 

When broken down to its essence, there is nothing difficult about most exchanges. Sell then buy while rolling over your money with the proper paperwork and timing.

PENNINGTON TITLE COMPANY can assist you with your exchange wherever the real estate you are selling, purchasing, or exchanging is located. Our highly skilled staff delivers timely, knowledgeable service for transactions of any size and complexity. It's the service you are entitled to. Please email 1031exchange@penntitle.com for further assistance.