It’s absolutely beautiful in Bellingham, WA on this Tuesday, December 01, 2009! The sun is shining, the bay is glistening, the air is crisp - a big change from yesterday and we’re enjoying it!

• The value of the replacement property must be equal to or greater than the value of the relinquished property.
• The equity in the replacement property must be equal to or greater than the equity in the relinquished property.
• The debt on the replacement property must be equal to or greater than the debt on the relinquished property.
• All of the net proceeds from the sale of the relinquished property must be used to acquire the replacement property.

• Once the money is deposited into an exchange account, funds can only be withdrawn in accordance with the Regulations. The taxpayer cannot receive any money until the exchange is complete. If you want to receive a portion of the proceeds in cash, this must be done before the funds are deposited with the Qualified Intermediary.*

 *Information gathered/quoted from the National Association of REALTORS® online library-1031 Exchange