About the Course
Introduction
This CLE webinar will guide counsel through the complicated transactional process of Section 1031 like-kind real property exchanges. The panel will provide a detailed discussion of the four main types of like-kind property exchanges and which may apply to certain transactions. The panel will discuss what property qualifies for like-kind exchanges, the exchange participants and their roles, and the steps and documents required for a Section 1031 exchange. Finally, the panel will address key provisions and drafting considerations for exchange and assignment agreements.
Description
The Section 1031 like-kind property exchange process can be complicated, so it is important that counsel and their clients understand how to navigate the process. While like-kind property exchanges have significant tax implications by allowing a taxpayer to defer and possibly avoid the tax on the sale of certain property by buying other property, this webinar will examine the transactional process related to like-kind real property exchanges.
The panel will address what property qualifies as like-kind property and describe exchange participants and their roles. The panel will discuss the four main types of exchanges, the process or steps of performing the exchange, and any required documentation, as well as address additional considerations and possible pitfalls of which counsel should be aware. The panel will also examine the legal documents used in the exchange transaction, namely the exchange agreement and assignment agreement, and provide key provisions and drafting considerations unique to these documents.
Listen as our experienced panel guides counsel through the like-kind property exchange process and provides best practices for negotiating and drafting key transactional documents.
Presented By
Mr. Brown has overseen the facilitation of more than 5,000 real and personal property exchanges with total values in excess of $3 billion. He works with the firm's specialty divisions and GC for parking title exchanges and multiple asset exchanges. Mr. Brown has trained over 7,500 attorneys, CPAs, REALTORS® and escrow officers and conducts in-house training on like-kind exchanges, teaches like-kind exchange continuing education courses and is a frequent legal, real estate and tax association speaker.
Mr. Hannon attorney and certified public accountant, advises clients on tax planning and tax-savings structures for real estate investments, developments, and joint ventures, with particular focus on Delaware Statutory Trusts (DSTs) and Section 1031 like-kind exchange planning. His practice spans three interconnected disciplines—real estate tax, transactional tax, and cross-border tax—allowing him to counsel clients on tax-driven structures involving real estate throughout the United States. Mr. Hannon brings deep knowledge of the regulations governing like-kind exchanges under Section 1031 of the Internal Revenue Code and regularly advises on the use of Delaware Statutory Trusts and tenant-in-common structures to facilitate the exchange process. He counsels sponsors, funds, and REITs on DST formation, master lease structuring, UPREIT conversions, bridge equity arrangements, post-exchange refinancing, and drop-and-swap transactions. His practice extends to both emerging sponsors and established real estate funds seeking to use DSTs to increase capitalization, helping clients navigate the tax-oriented issues unique to DST financing and loan structures. Mr. Hannon also brings significant experience advising existing owners and equity providers on the tax and structural challenges presented by distressed real estate. A frequent panelist on webinars and symposiums addressing tax planning for real estate transactions, Mr. Hannon has also served as adjunct faculty at DePaul University Graduate School of Business in its MBA program where he taught a course on tax and structural planning for real estate transactions.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, November 11, 2025
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Overview of IRC Section 1031 like-kind property exchanges
A. Purpose of like-kind property exchanges and overview of tax implications
B. Qualifying property
- Second and vacation homes
- Dealer property
C. Like-kind property
D. Identifying replacement property
- Special identification issues for DST interests
- Contiguous property
- Applying the 200% rule
E. Exchange participants and their roles
II. Types of like-kind property exchanges
A. Simultaneous exchange
B. Delayed exchange
C. Safe harbor reverse exchange
D. Non-safe harbor reverse exchanges/construction or improvement exchange
III. Section 1031 like-kind property exchange process
A. Required steps
B. Important deadlines
C. Necessary documents
IV. Transactional agreements
A. Exchange agreement
- Purpose
- Key provisions and drafting considerations
B. Assignment agreement
- Purpose
- Key provisions and drafting considerations
C. Others
V. Practice pointers on exchanges involving LLCs and partnerships
A. The "same taxpayer" rule
B. Drop and swap Issues
C. Using the rules of the installment method of Code Section 453
D. Post-exchange distributions
E. Post-exchange refinancings
VI. Best practices
The panel will review these and other important issues:
- What are the four main types of like-kind property exchanges, and under what circumstances should each be used?
- How do the types of exchanges differ from each other?
- What are the unique transactional requirements for each type of like-kind property exchange?
- Who are the participants in the exchange transaction, and what are their roles?
- What are the unique provisions and drafting considerations related to the exchange and assignment agreements?
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