Featured News from ECA
From The ECA Title Desk
Our thirty (30) years of experience and our personal attention to every detail will “insure” that your home, condominium, or co-op ownership will be protected with the proper title insurance.
1031 Exchange Information
As a general rule, all real estate is considered ‘like-kind’ to all other real estate. This means, for example, that you can exchange raw land for a skyscraper or a shopping center for an apartment building, which makes a like-kind exchange an attractive option for a taxpayer who wants to defer paying income tax on the gain from the sale of appreciated property.
Section 1031 of the Internal Revenue Code is not a tax loophole. It has been around as long as the tax codes itself and allows up to 100% deferral of the realized gain. This includes the capital gain plus the accumulated depreciation recapture. For investors large and small, there is no other provision in the tax code that favors this magnitude of tax deferral.
Why ECA 1031 Services Corp.?
The selection of your Qualified Intermediary (QI) is crucial to the success of your exchange.
ECA 1031 provides sound documentation and the services of highly-skilled exchange professionals.
There are other types of exchanges, such as reverse exchanges, improvement exchanges, and personal property exchanges. ECA provides unparalleled expertise for exchanges of real property, with a simplified and streamlined process.
Unlike other 1031 exchange servicer’s, ECA 1031 does not yield a profit from the exchanger’s deposit and only “parks” the deposits in Federally insured banks. Ask us about the CDAR programs.
Who Can Exchange?
- Corporations Partnerships Individual
- Limited Liability Companies
- Foreigners who own U.S. property
Reasons for Exchanging:
- Change for the type of property you own
- Accommodate life transitions
- Change tenants
- Transitions from maintenance-intensive property to professionally-managed property
- Improve your investment performance
Before you begin the exchange process, consult with your tax or financial advisor to insure that a 1031 exchange is right for you. If it is, then contact ECA 1031 Services Corp. at 800-734-7110. We will help you complete the exchange process.
Settlement Services Corp
At ECA Settlement Services you can be confident that we will get the closing done right the first time, every time. There are many facets to a closing that need careful attention before you get to the closing table. Preparations for settlement should start as soon as the contract of sale is signed. With our “no compromise” standard of service, regardless of the size of your transaction, and almost compulsive attention to detail, we ensure that all aspects of your settlement are addressed ahead of time. On the day of closing we want everything to go like clockwork, with no surprises. We’re always there to help resolve issues from simple to complex. Your closing deserves careful attention – before, during and after settlement.