Virginia 1031 Exchange Rules

Virginia 1031 Exchange Rules

Virginia 1031 Exchanges require an acquisition period of 180 days, during which the virginia real estate investor must identify potential properties for the exchange (within 45 days) and acquire said virginia property or virginia properties. The acquisition period begins at the close of escrow on the relinquished virginia property. Furthermore, all virginia 1031 exchanges must adhere to one of the following rules:

  • The Three-Virginia Property Rule states that the exchanger must identify up to, but no more than three potential virginia properties during the acquisition period.

  • The 200% Rule - States that, in the even that three or more like kind virginia properties are selected in the transaction, their aggregate value must not exceed 200% of the value of the virginia property that is being relinquished.

  • The 95% Exception - Stipulates that the aggregate value of any and all like kind replacement virginia properties must account for at least 95% of the value of the relinquished virginia property in order for the exchange to qualify. This rule will apply only if rules 1 and 2 do not apply to the specific situation.

    Contact us for a free consultation with a virginia 1031 broker regarding all upcoming 1031 virginia tic exchange opportunities.



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