A 1031 Exchange is the swap of one investment property for another like kind investment property. This allows taxpayers to defer Capital Gains taxes associated with the sale of their investment property if replaced with another like kind investment property. If you meet all the IRS requirements, you’ll have no taxes or limited taxes due. Like kind includes all forms of real property (residential, commercial, land, etc.). A CPA or tax attorney opinion can be most helpful. If you would like a complete brochure on the 1031 exchange process, let me know and I will send it to you in a PDF attachment. Information provided by Land Title Guarantee Company.