Do you or someone you know need help with a real estate closing in Charleston, Berkeley or Dorchester South Carolina? Need help performing a Section 1031 Tax Exchange or other real estate transaction? The Charleston real estate lawyers at Howell and Christmas, LLC know South Carolina's Real Estate Laws and are here to serve you. Our highly trained and experienced group of real estate attorneys, paralegals and staff will provide you the fast quality service you expect and deserve.

Whether you are purchasing or selling residential or commercial property in South Carolina, or qualifying for and performing a Section 1031 Tax Exchange, these types of legal transactions are very likely the largest and most complex in which you will ever be involved. Because the intricacies of real estate law can be confusing, having an experienced lawyer by your side is the best way to ensure that your transaction is done right.

Information regarding Section 1031 Tax Exchanges in South Carolina

How can a South Carolina real estate lawyer help? First, by taking advantage of this tax provision which is very complex. A real estate attorney can help you be sure that the rules are complied with and maximize your ability to receive the full benefits of the tax exchange. The law requires the use of an intermediary in all section 1031 exchanges. Your attorney can work closely with your intermediary to expedite this process.

Why do a 1031 exchange? One reason is to postpone paying taxes on the proceeds from the sale of your properties. Minimizing taxes is one way to maximize your real estate investments. A 1031 tax exchange is an exchange of a similar kind property made during a certain time period which can allow you to defer payment of these taxes. When you sell your property, you only have 45 days after the settlement to find a replacement property and only a mere180 days to buy the second property. You have to strictly comply with the law regarding these exchanges in order for the proceeds of your transaction to achieve a tax deferred status.  Working with an experienced attorney can give you the confidence that your transaction complies with the safe-harbor provisions provided in Section 1031.

We Can Help

Have questions about South Carolina real estate transactions? Just call us or click on "Ask a Lawyer" and send us your questions. The initial consultation is free. Let one of our Charleston real estate attorneys give you straight answers to all your real estate questions.

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