I have a capital gains problem and would like to reinvest using 1031 process.Can the investment be in Mexico ?

Closing on my real estate is 7/25/07...what is the time line I
should follow to utilize the 1031 process?

As a 1031 Accommodator with First American Exchange Company, one of the country's largest 1031 Accommodators, let me help answer your questions, 1 at a time.

First, you cannot use the 1031 to purchase property outside of the United States. Per the code, you must sell and buy property in the United States.

As far as time frames, if your transaction were to close on 7/25/07, the next day, 7/26/07, would be Day 1 of your exchange. You have 45 days to identify your replacement property with your Accommodator and a total of 180 days to close on your replacement property. This would mean your 45 days for Identification would expire on 09/08/2007 and your 180th day for your exchange period would expire on 01/21/2008.

Please understand that before your transaction closes, you must enlist the services of an Accommodator and have all of your exchange documents fully executed. If not, you will have an non-conforming exchange. You should be looking for your Accommodator right now.

As an Accommodator registered in the State of Nevada, I do work in all 50 states. Nevada is the only state that requires registration of an Accommodator. In the other 49 states, anyone can become an Accommodator without bonding or any background checks. As an Accommodator with First American Exchange Company, a wholly-owned subsidiary of First American Title Company, your funds are guaranteed by First American Corporation, the largest title company in the industry, with a history dating back to 1889.

If you would like more information, please email me at Pro1031@yahoo.com and I would love to talk to you more about your transaction. I am a Certified Exchange Specialist, a designation earned through our governing body, the Federation of Exchange Accommodators. This means I have gone through a testing process on all aspects of the 1031 code, and passed.

I can do transactions in all 50 states, so I can help you out.