1031 Exchange Newsletter - September 2004

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SB&OH EXCHANGE ACCOMMODATORS, LLC

September 1, 2004

Dear Friends:

Thanks to all of you are certainly in order. July turned out to be a record month for SB&OH Exchange Accommodators. More of you chose us to accommodate your exchanges than in any past month. We do sincerely thank you all for the confidence you have placed in us.

August slowed a bit as it historically does. The reasons for this are several, including vacations and the wrap-up of summer. One condition, however, is unique to this year. For whatever reason there seems to be a lack of inventory of replacement property; at least that is the feedback we are getting.

This does bring up an interesting exchange alternative: tenancy-in-common arrangements. While the distinction between a partnership interest and a tenancy-in-common interest requires close examination by an expert, there is a whole new industry growing around this concept. As we are sure you know, partnership interests cannot be exchanged under § 1031 of the Internal Revenue Code but tenancy-in-common interests can be.

The tenancy-in-common concept in exchanging does have several advantages to the exchangor. One is allowing an exchangor with limited funds to purchase an interest in a larger quality property rather than being required to purchase a smaller free-standing unit. The exchangor is able to have a hands off interest in the property under a tenancy-in-common arrangement and need only deposit the check each month. A tenancy-in-common arrangement can also be a fall back when faced with 45 day and 180 day deadlines.

The arrangement is complex and the need to sell or refinance may be more difficult because many parties are involved. What is more, the tenancy-in-common interests are not as marketable as other interests. Buy-back arrangements may be at a considerable discount.

This is a new area. Although it has opportunities, it also has risks. Whether it is right for you or not requires close scrutiny of your individual situation. Should you have interest in exploring this further for your personal involvement, please call either Jeff Helsdon or Tom Oldfield. Both of these attorneys are current in this area and eager to be of help to you.

Until next month, our best regards to you. Happy exchanging!

Sincerely,
Your Friends at

SB&OH Exchange Accommodators, LLC

Home 1031 Exchange 1031 Podcasts Online Handbook Is Your Money Safe? Selecting Your Accommodator The Timeline Our Fee Schedule Newsletters August 14,2008 March 6, 2008 March, 2008 December, 2007 July 2007 November 2006 May 2006 April 2006 March 2006 January 2006 November 2005 October 2005 August 2005 June 2005 (2) June 2005 May 2005 April 2005 March 2005 February 2005 January 2005 December 2004 November 2004 October 2004 September 2004 August 2004 July 2004 June 2004 May 2004 April 2004 March 2004 February 2004 January 2004 FEA Code of Ethics and Conduct Office Directions Contact Us Classes & Presentations Links	SB&OH EXCHANGE ACCOMMODATORS, LLC September 1, 2004 Dear Friends: Thanks to all of you are certainly in order. July turned out to be a record month for SB&OH Exchange Accommodators. More of you chose us to accommodate your exchanges than in any past month. We do sincerely thank you all for the confidence you have placed in us. August slowed a bit as it historically does. The reasons for this are several, including vacations and the wrap-up of summer. One condition, however, is unique to this year. For whatever reason there seems to be a lack of inventory of replacement property; at least that is the feedback we are getting. This does bring up an interesting exchange alternative: tenancy-in-common arrangements. While the distinction between a partnership interest and a tenancy-in-common interest requires close examination by an expert, there is a whole new industry growing around this concept. As we are sure you know, partnership interests cannot be exchanged under § 1031 of the Internal Revenue Code but tenancy-in-common interests can be. The tenancy-in-common concept in exchanging does have several advantages to the exchangor. One is allowing an exchangor with limited funds to purchase an interest in a larger quality property rather than being required to purchase a smaller free-standing unit. The exchangor is able to have a hands off interest in the property under a tenancy-in-common arrangement and need only deposit the check each month. A tenancy-in-common arrangement can also be a fall back when faced with 45 day and 180 day deadlines. The arrangement is complex and the need to sell or refinance may be more difficult because many parties are involved. What is more, the tenancy-in-common interests are not as marketable as other interests. Buy-back arrangements may be at a considerable discount. This is a new area. Although it has opportunities, it also has risks. Whether it is right for you or not requires close scrutiny of your individual situation. Should you have interest in exploring this further for your personal involvement, please call either Jeff Helsdon or Tom Oldfield. Both of these attorneys are current in this area and eager to be of help to you. Until next month, our best regards to you. Happy exchanging! Sincerely, Your Friends at SB&OH Exchange Accommodators, LLC

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