Dan and Cynthia sold two parcels
of vacant land in Georgia for $91,000. They wanted
to invest the proceeds from this sale in a different
sort of property. They decided to purchase a single-family
3-bedroom, 2-bath ranch house on one acre in another
area of Georgia for $89,000. They plan to rent
the acquired property.
A limited liability company (LLC) sold a conservation
easement to another builder, who planned to use
the property for wetlands remediation. The LLC
will use the $267,000 proceeds, along with financing,
to purchase an office building that will be rented.
In Annapolis, Maryland, two individuals owned
a 5 acre parcel of land. They joined with a corporation
that owned a 9 acre parcel of land to create a
14 acre assemblage, which they then sold to an
entity to develop the land into an apartment complex.
One of the individual sellers also happened to
be the president of the selling corporation. The
two individual sellers did an exchange on their
5 acres, but the corporation did not participate
in the exchange. The $850,000 is being held in
an account in Maryland, pending closing on the
replacement property.
Bill owned a small strip center where he operated
his dentist’s office. He is 60 and thinking
about retirement, and enjoys going to St. Augustine
for golf every winter. An attractive offer of
$700,000 is made and he would like to sell the
center and exchange into 4 or 5 subdivision homes
that can be used as rentals in St. Augustine.
He can lease back his office until he retires
and sell off the houses later, during his retirement.
He can put the best house into the rental pool,
using it himself 2 weeks a year, and then after
he retires in several years he can spend the entire
winter in that house. |
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