FDIC Insured – Backed with the full faith and credit of the U.S. Government
If you’re selling investment real estate located anywhere in Illinois, a properly structured Section 1031 Like-Kind Exchange may allow you to defer capital gains taxes while reinvesting in qualifying replacement property.
Bank & Trust Company serves as a neutral Qualified Intermediary, helping facilitate exchanges in accordance with Internal Revenue Code Section 1031. A Qualified Intermediary cannot be the taxpayer or a disqualified person and plays an important role in helping maintain the exchange’s safe harbor requirements.
1031 exchanges can involve many types of real estate, including:
- Rental Homes
- Apartment Buildings
- Commercial Property
- Farm Ground
- Vacant Land
- Industrial Buildings
- Retail Property
Our experienced team coordinates exchange documents, escrowed exchange proceeds, required deadlines, and communication with your closing attorney, title company, CPA, and real estate agent.
Have questions about a 1031 exchange?
Contact Denise DeLaCruz, Trust Officer, for additional information.
