What Is a 1031 Exchange?

In this kickoff episode of The 1031 Brief, Ashley Stefan, Divisional Counsel for First American Exchange Company, explains what a 1031 exchange does and why it matters. She discusses what “like-kind” means in real estate and in a 1031 context, and why there are advantages to having an exchange structure in place before a sale closes. This episode gives investors and advisors a foundation for understanding how this tax deferral tool may help keep capital working in qualifying real estate.