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1031 Like Kind Exchange
Over 60% of annual Avpro jet sale transactions involve arranging 1031 like-kind exchanges for our clients.
Although the aircraft exchange process itself is fairly straight forward, the detail required in documenting such a transaction has very specific guidelines and timeframes established by the Internal Revenue Code 1031.
Also depending upon whether it is a Delayed, Simultaneous, or Reverse exchange effects the way a particular transaction must be set up on the front end. Therefore, we typically recommend our clients to retain the top firms in this field that act as Qualified Intermediaries regularly so that the transactions are documented properly with the latest revisions, if any, to the 1031 Code.
Although an aircraft manufacturer can act as a Qualified Intermediary, many manufacturers are electing to sub-contract these services to the experts in this field to ensure proper documentation for their clients.
