Get the free Like-Kind Exchange Order Form - Investors Title
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Likening Exchange Procedures and Information
Investors Title Exchange Corporation (ITEM)
provides Qualified Intermediary services for property
owners who wish to effect a 1031 Exchange. ITEM,
in its
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How to fill out like-kind exchange order form
How to fill out like-kind exchange order form
01
To fill out a like-kind exchange order form, follow these steps:
02
Begin by providing your name and contact information.
03
Indicate the date on which the order form is being filled out.
04
Provide a detailed description of the property you are exchanging, including its type, location, and current value.
05
Specify the property you wish to acquire in the exchange, providing details such as its type, location, and estimated value.
06
State the reason for the exchange and any additional information that may be required, such as any existing liens on the property.
07
Sign and date the form to validate its authenticity and completeness.
08
Submit the filled out form to the relevant authorities or parties involved in the like-kind exchange process.
Who needs like-kind exchange order form?
01
Anyone engaging in a like-kind exchange, also known as a 1031 exchange, needs to fill out a like-kind exchange order form. This form is required by the Internal Revenue Service (IRS) in the United States to document the exchange of properties for tax purposes. It is commonly used by real estate investors, business owners, and individuals looking to defer capital gains taxes by exchanging one property for another of like-kind.
02
Additionally, anyone involved in facilitating the like-kind exchange process, such as qualified intermediaries or exchange facilitators, may also need to fill out this form to record the details of the exchange transaction.
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