Section 1031 Tax-Deferred Exchanges
Chances are good that, if it hasn't happened yet, you will one day work on a transaction involves a property that’s part of a tax-deferred exchange. When this happens, will you be ready to guide your client through the process and ensure they meet the critical deadlines?
With an appropriately formed exchange, an investor can defer paying taxes on the profit from one investment and instead use all of the profits to fund another investment.
This course helps licensees become more comfortable with guiding clients through a 1031 tax-deferred exchange transaction and ensuring critical deadlines are understood and met.
Course highlights include:
- Section 1031 tax-deferred exchange definitions
- Starker’s Exchange background and application
- U.S. Internal Revenue Code requirements
- IRS Safe Harbor Guidelines
- Investor taxes advantages
- Setting up an exchange
- Selecting a Qualified Intermediary
- Licensee role in a Section 1031 tax-deferred exchange
- The non-exchanger's role in a Section 1031 transaction
- Reverse exchanges
- Rare exemptions to exchange deadlines
State Requirements For Virginia
Virginia State Requirement Details for Real Estate Broker Continuing Education
Renewal Date: License expires every two years on the last day of the initial license month. Renew no earlier than 60 days prior to license expiration.
Hours Required by the State if License Expires Before June 30, 2026: 24 hours
- 16 hours of mandatory course topics
- 6 hours in Broker Management
- 2 hours in Broker Supervision
- 3 hours in Ethics & Standards of Conduct
- 2 hours in Fair Housing
- 1 hours in Legal Updates and Emerging Trends
- 1 hours in Real Estate Agency
- 1 hours in Real Estate Contracts
- 8 hours of elective course topics or mandatory course topics
Hours Required by the State if License Expires On or After June 30, 2026: 24 hours
- 19 hours of mandatory course topics
- 6 hours in Broker Management
- 2 hours in Broker Supervision
- 3 hours in Ethics & Standards of Conduct
- 2 hours in Fair Housing
- 2 hours in Legal Updates and Emerging Trends
- 2 hours in Real Estate Agency
- 2 hours in Real Estate Contracts
- 5 hours of elective course topics or mandatory course topics
Note: These Continuing Education requirements also apply to inactive brokers who apply to activate their licenses.
Virginia Department of Professional and Occupational Regulation Real Estate Board
Street Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485
Mailing Address: 9960 Mayland Drive, Suite 400, Richmond, Virginia 23233-1485
Telephone: (804) 367-8526
Email: reboard@dpor.virginia.gov