Have you or your clients done an IRC Section 1033, Involuntary Conversion? Are you seeing this where property was destroyed by the recent Fires or hurricanes? Not the same as IRC Section 1031.

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Fred Griffin Florida Real Estate, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

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Great question and thanks for sharing the information, Fred. I've never done one and hope to never have to either! It's great information for those in areas of recent disasters, for certain.

Oct 19, 2017 01:24 PM

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Anthony Acosta - ALLAT...

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Michael Jacobs

Pasadena, CA

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Interesting question, Fred. I have not been involved nor ever had a client ask about an involuntary conversion. Will be bad to check other answers.

Oct 19, 2017 12:54 PM

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Kathleen Daniels, Prob...

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Anthony Acosta - ALLATLANTAcondos.com

Harry Norman, REALTORS® - Atlanta, GA

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I have not.

Oct 19, 2017 04:26 PM

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Candice A. Donofrio

Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ

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Super good question. I will watch for answers, because this is of interest to me.

Oct 19, 2017 03:24 PM

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Fred Griffin Florida R...

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Candice A. Donofrio

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Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Fred, I have not. I hope that I never do. However, this is good information to know about. Indeed it would require the assistance of a tax professional well versed in the code. Thank you.

Oct 19, 2017 02:03 PM

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Fred Griffin Florida R...

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Debe Maxwell, CRS

Charlotte, NC

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Peter Mohylsky, Destin BeachPro

PMI. Destin - Miramar Beach, FL

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Fred, Where do you find these items. No, I have not heard of this?

Oct 19, 2017 01:23 PM

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Fred Griffin Florida R...

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Debe Maxwell, CRS

Charlotte, NC

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Michael Setunsky

Woodbridge, VA

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Fred Griffin No, not familiar with this.

Oct 19, 2017 12:47 PM

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Debe Maxwell, CRS

Charlotte, NC
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Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

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No, I haven't. Wasn't aware of the option to do so. Will keep it in mind, if ever....

Oct 19, 2017 12:40 PM

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Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

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No,

However, this is an interesting and appropriate to our recent disasters. A

Oct 19, 2017 12:27 PM

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Nina Hollander, Broker

Charlotte, NC
Fred Griffin Florida R...

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Roy Kelley

Retired - Gaithersburg, MD

Nope.

Oct 19, 2017 12:23 PM

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Debe Maxwell, CRS

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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Never done it, Fred.

Jun 17, 2018 08:03 PM

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Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

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Luckily, no I have not Fred!

Oct 23, 2017 06:42 AM

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Fred Griffin Florida R...

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Cynthia Larsen

Cotati, CA

Independent Broker In Sonoma County, CA

Thanks for the info Fred, I'll add this to my many other "must read" items. I need this education now more than ever.

Oct 22, 2017 09:20 AM

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Fred Griffin Florida R...

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Nathan Gesner

American West Realty and Management - Cody, WY

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I've never heard of them. My state is one of the safest when it comes to home-destroying disasters.

Oct 21, 2017 05:36 AM

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Fred Griffin Florida R...

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Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

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No.

Oct 20, 2017 04:01 PM

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Sandy Padula & Norm Padula, JD, GRI

HomeSmart Realty West & Florida Realty Investments - , CA

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I have never, thankfully, done one.

Oct 20, 2017 02:01 PM

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Fred Griffin Florida R...

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Libby Cousins

Extraordinary Processing - Spokane, WA

Contract Mortgage Processor, licensed in WA

Wow, I didn't even know about this! I am aware of 1031 exchanges but didn't realize there was a program like this. No, I have never seen/done one.

Oct 20, 2017 08:18 AM

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Fred Griffin Florida R...

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Christine Kankowski North SD and Temecula

House Match Inc - Poway, CA

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Learned something new today. Thanks for bringing this up

Oct 20, 2017 07:19 AM

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Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I am not familiar with this.

Oct 20, 2017 06:32 AM

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Fred Griffin Florida R...

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Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

A section of the IRC I hope I never have to refer to but nice to know it is there if necessary!

Oct 20, 2017 05:18 AM

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Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Nope - not yet!

Oct 20, 2017 05:10 AM

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Inna Ivchenko

Barcode Properties - Encino, CA

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It is a new for me. Thanks for heads up, i'm sure we'll see it in my area since so many people lost their homes recently.... I'll check it out.

Oct 19, 2017 09:24 PM

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Fred Griffin Florida R...

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William Feela

WHISPERING PINES REALTY - North Branch, MN

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I have not been involved with one

Oct 19, 2017 07:01 PM

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Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

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I am unaware of any properties that would qualify in my market area, however we have had displaced homeowners and renters (hurricane zones) move to my area and they had a large cash sum to invest in a new residence from the dispostion of their damaged homes.

Oct 19, 2017 04:46 PM

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Fred Griffin Florida R...

Tallahassee, FL

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Bob Crane

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Good to know this is available Fred.

Oct 19, 2017 04:16 PM

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Ryan Huggins - Thousand Oaks, CA

https://HugginsHomes.com - Thousand Oaks, CA

Residential Real Estate and Investment Properties

I was not aware of this code section, so no.

Oct 19, 2017 04:04 PM

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Fred Griffin Florida R...

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Jennifer Mackay

Counts Real Estate Group, Inc. - Panama City, FL

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That's not something I've been involved with to date - lots of 1031's but not 1033 - not yet anyway

Oct 19, 2017 03:35 PM

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Fred Griffin Florida R...

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Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

beyond my paygrade.....

Oct 19, 2017 02:41 PM

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Fred Griffin Florida R...

Tallahassee, FL

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Great question and thanks for sharing the information, Fred. I've never done one and hope to never have to either! It's great information for those in areas of recent disasters, for certain.
Interesting question, Fred. I have not been involved nor ever had a client ask about an involuntary conversion. Will be bad to check other answers.
Super good question. I will watch for answers, because this is of interest to me.
Fred, I have not. I hope that I never do. However, this is good information to know about. Indeed it would require the assistance of a tax professional well versed in the code. Thank you.
Fred, Where do you find these items. No, I have not heard of this?
No, I haven't. Wasn't aware of the option to do so. Will keep it in mind, if ever....
No,

However, this is an interesting and appropriate to our recent disasters. A
Thanks for the info Fred, I'll add this to my many other "must read" items. I need this education now more than ever.
I've never heard of them. My state is one of the safest when it comes to home-destroying disasters.
Wow, I didn't even know about this! I am aware of 1031 exchanges but didn't realize there was a program like this. No, I have never seen/done one.
A section of the IRC I hope I never have to refer to but nice to know it is there if necessary!
It is a new for me. Thanks for heads up, i'm sure we'll see it in my area since so many people lost their homes recently.... I'll check it out.
I am unaware of any properties that would qualify in my market area, however we have had displaced homeowners and renters (hurricane zones) move to my area and they had a large cash sum to invest in a new residence from the dispostion of their damaged homes.
That's not something I've been involved with to date - lots of 1031's but not 1033 - not yet anyway