If you are considering a 1031 exchange - or are just curious about how the prcess works - here is the meeting you must attend!

Join subgroup leader Patrick Curley as he welcomes guest speaker Ms. Ute Heidenreich, of Towne 1031 Exchange as she reviews all of the ins and outs of utilizing 1031 exchanges in your real estate investing portfolio. Key takeaways will include:

 • Why? Tax Deferred Exchanges permit deferral of capital gains tax obligations and depreciation recapture when an investor trades investment real property for likekind property
• What? 1031s permit you to own the type of investment real estate that works best for you and investment real estate is deemed like kind
• Who? Any tax paying entity is entitled to the benefits of Section 1031
• How? Requirements include using a qualified intermediary and not obtaining even constructive control of funds
• Deadlines: 45 Day to identify and 180 days to close
• Identification Rules: 3 Property Rule 200% Rule 95% Rule
• Taxable Boot

Ms. Ute Heidenreich serves as President of Towne 1031 Exchange, LLC, a wholly owned subsidiary of TowneBank, where she also is an Executive Vice President and General Counsel. Ute, a native of Germany, is a graduate of the Marshall Wythe School of Law and holds a B.A. from the College of William and Mary. Prior to joining TowneBank in 2008, Ute was an associate at McGuire Woods and served as branch counsel of LandAmerica/Lawyers Title Insurance. She is a frequent presenter on tax deferred exchanges.