Trust & Wealth Management1031 Like Kind Exchanges
Starker Trust allows an owner of investment or commercial real estate to defer paying taxes on real estate gains provided the property is exchanged for "Like Kind" property rather than sold for cash. "Like Kind" is all property classified as realty under State Law. Improved real estate may be exchanged for unimproved real estate and city real estate may be exchanged for rural real estate. A personal residence does not qualify as "Like Kind" property. Section 1031 of the Internal Revenue Code has definite parameters when using a Starker Trust, and Castle Bank is a Qualified Intermediary pursuant to Reg. 1.1030(g)(4) enacted under Section 1031 of the Internal Revenue Code of 1986, as amended.
For your convenience, we have added a link to our 1031 Exchange Agreement. We have also added specific exhibits within the agreement for ease of completion as the exchange progresses.
We invite you to contact Castle Bank's Trust and Wealth Management Group at 1-800-990-5713 to learn more information about Starker Trusts.
(You will need Adobe Acrobat Reader to view the forms below. If you do not have Adobe you can click the Adobe Icon below to download a free copy of it.)
- 1031 Exchange Agreement (Includes all exhibits below)
- 1031 Exchange Agreement (Word Version)
- 1031 Exchange Disbursement Authorization
- 1031 Exchange - Exhibit A
- 1031 Exchange - Exhibit B
- 1031 Exchange - Exhibit C
- 1031 Exchange - Exhibit C1
- 1031 Exchange - Exhibit D
- 1031 Exchange - Exhibit E
- 1031 Exchange - Exhibit F
- 1031 Exchange - Exhibit F1
