Tenant-in-Common as an Exchange
Welcome to E. Richard Giglio Real Estate. We specialize in 1031 Exchange Oil & Gas Investments. Let us help you invest in your future.
IRS Issues Guidelines for Tenancy-in-Common Interests
The Internal Revenue Service has announced (Rev. Proc. 2002-22) the conditions under which it will consider a request for a ruling that an undivided fractional interest in rental real property is not an interest in a busines entity. This is the first time a favorable ruling has been issued to support tenant-in-common real estate ownership qualifying as replacement property for purposes of Section 1031 of the Internal Revenue Code. Each Tenant-in-Common program we will present to you will include an opinion letter from a leading law firm outlining compliance with the conditions listed in Rev Proc 2002-22.
If you would like to learn more about 1031 exchange investing you can contact us or attend an educational seminar hosted by Rich Giglio. These 1031 exchange seminars are held throughout the country and explain many options of oil & gas investments and real estate purchases.
For more information, please contact us.
Nothing in this website should be deemed to constitute tax, legal or accounting advice. Investors are urged to consult their own tax advisors.