Wednesday, September 9, 2:00–4:00 p.m. ET
| MCLE Credit: | 2.0 pending |
| Live-Interactive Credit: | 2.0 pending (all formats) |
Investors who sell real property and reinvest the proceeds in qualifying property may defer the recognition of gain using 26 USC Section 1031. This seminar will cover deferred exchanges, reverse exchanges, and improvement exchanges, and address situations where not all partners wish to participate in an exchange. We will also discuss Delaware Statutory Trusts (DSTs), 721 partnership rollups, as well as exchanges involving leaseholds, cell towers, solar sites, and the exchange of LLC interests in place of LLC-owned property.
By deferring taxes on the sale of a property, taxpayers effectively receive an interest-free loan from the government, allowing them to use these funds to purchase additional replacement property. Parking exchanges can be utilized when it is necessary to purchase before selling or when improvements are to be added to the replacement property. In certain circumstances, improvements may also be added to property the taxpayer already owns. Reverse and deferred exchanges can be combined to address timing issues when multiple properties are involved and when there is a mix of out-of-sequence sales and purchases.
Partnerships (including multi-member LLCs) that have some partners unwilling to participate in the exchange have several options. These include the purchase or redemption of the exiting partner’s interest, dropping a proportionate interest to that partner, redeeming using an installment note structured as part of the sale price or issued by the Qualified Intermediary in what is known as a “PIN” transaction, or executing a partnership split.
Registration Deadlines:
| Webcast: | 10 minutes prior to seminar. If you register for a webcast the day of the seminar, your e-mail receipt will include a link to launch the seminar and download the materials. |
| Telephone: | 10 minutes prior to seminar Call (434) 979-8253 to register up to one hour prior to the seminar |
| Live on Site: | Online registration ends at 11:59 p.m. the day preceding the seminar Walk-in registration is permitted on a space-available basis |
Cancellation Policy: Cancellation/transfer requests will be honored until 5:00 p.m. the day preceding the seminar. You will, however, be charged $40 if you cancel or transfer your registration to a different seminar after the link to the materials has been e-mailed by Virginia CLE®.
Full refunds or transfers are available up to two days after a webcast in the unlikely event that you experience technical difficulties.
Dietary Restrictions: If you have dietary restrictions and are attending the seminar in person, please email deanna.mcglothlin@vacle.org.
MCLE Credit Caveat: The MCLE Board measures credits by the time you spend in attendance. If you enter a seminar late or leave it early, or both, you must reflect those adjustments accurately in the credits you report on your credit reporting form. A code will be given at the end of the seminar, which must be written on your MCLE form.
Private recording of this program is prohibited.
Can’t Attend?
E-mail distance_ed@vacle.org to be notified when/if this program is made available as an online or USB seminar.
E-mail publications@vacle.org to be notified when/if this program’s seminar materials are made available for sale.
| 2:00 | Simple and Complex Exchanges Under IRC § 1031, Including Alternatives for Exiting Partners |
| 4:00 | Adjourn |
Jeff Horan, Vice President, Realty Exchange Corporation / Gainesville
David Lingerfelt, Counsel, Realty Exchange Corporation / Gainesville
Sarah Louppe Petcher, S&T Law Group PLLC, Outside Counsel to Realty Exchange Corporation / Falls Church
Jeff Horan, Vice President, Realty Exchange Corporation / Gainesville
Jeff Horan serves as a Qualified Intermediary with Realty Exchange Corporation, a third-generation family-owned firm based in Gainesville, Virginia. For more than 36 years, Realty Exchange has helped investors successfully navigate tax-deferred exchanges under Section 1031. Mr. Horan holds the Certified Exchange Specialist (CES) designation and serves on the Board of Directors of the Federation of Exchange Accommodators (FEA), the national trade association for the 1031 exchange industry. He actively participates in government affairs initiatives in Washington, D.C., helping educate policymakers and advocate for the preservation and protection of Section 1031.
Mr. Horan earned his Bachelor of Science in Finance with a minor in Law and Justice from North Carolina State University in 2011.
David Lingerfelt, Counsel, Realty Exchange Corporation / Gainesville
David Lingerfelt, Esq., has served as Counsel for Realty Exchange Corporation since 2019. REC provides qualified intermediary and exchange accommodation services for domestic and foreign real estate transactions. Mr. Lingerfelt focuses primarily on parking and complex exchanges.
Until retiring in 2024 Mr. Lingerfelt was also a partner at Vertical Vision, PLC, specializing in tax advantaged transactions and 1031 exchanges. He was previously a partner with Parker, Pollard, Wilton & Peaden. He has over 25 years of experience with like-kind exchanges, having structured exchanges for real and personal property including aircraft, Formula I race cars, and television station licenses. He obtained his JD from the University of Richmond and his LLM in taxation from New York University.
Sarah Louppe Petcher, S&T Law Group PLLC, Outside Counsel to Realty Exchange Corporation / Falls Church
Sarah Louppe Petcher was born and raised in Paris, France. After a stint as a family law attorney in Fairfax, she became General Counsel of the Northern Virginia Association of Realtors where she fell in love with real estate. During her tenure at NVAR, she learned not only about running a real estate association but came to understand the full picture of the real estate industry in the US. With this unique perspective, she partnered up with Toula Dreifuss to form S&T Law Group and the 1031 Exchange Group with the goal to provide services to Realtor associations, real estate brokerages, real estate agents, and members of the public involved in real estate transactions. She serves as outside counsel to the Realty Exchange Corporation.
Ms. Petcher received her Bachelor of Science and Bachelor of Arts degrees from Northwestern University and her JD from George Mason University School of Law.
