Daytona Beach Area Association of Realtors Legal Forum

Daytona Beach Area Association of Realtors Legal Forum

By Real Property Council of Volusia County
From September 24, 2019 8:30 am
until September 24, 2019 12:00 pm


The Basics of FIRPTA & 1031 Exchanges

The Volusia Real Property Council will present a 2-hour seminar addressing the Foreign Investment in Real Property Tax Act (FIRPTA) and 1031 Exchanges.  


Linda Monaco, Esq., Attorneys' Title Fund Services, LLC

Janet Schaum, Vice President, Old Republic Exchange

Part I will provide an in-depth discussion of Tax Deferred Exchanges under §1031 of the Internal Revenue Code. It will discuss the legal and regulatory basis for a 1031 exchange, the terminology, key aspects of a 1031 exchange and what qualifies as an exchange under the rules set forth by the IRS Treasury Regulations. The session will also examine the possible pitfalls and risks associated with a 1031 exchange. Upon completion of this part of the course, the real estate agent will be able to knowledgeably communicate the aspects of the 1031 exchange process to their clients.

Part 2 is designed to explain FIRPTA and introduce how to address the issues which arise when there is a foreign seller in a real estate transaction. The program will address the law, foreign sellers, covered real estate, withholding requirements, exemptions, reductions.

This seminar is accredited by the Florida Real Estate Commission (FREC) 2-hours of Specialty CE Credit.