Part of every real estate investors lifecycle is planning for their exit strategy, even if it is years away. At our September Lunch & Learn we will hear from Hampton Roads' most respected 1031 exchange facilitator, Attorney Ute Heidenreich.
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1031 Tax Deferred Exchanges permit deferral of capital gains tax obligations and depreciation recapture when an investor exchanges investment real estate for like-kind property, namely other investment real estate. The great news is that all real estate is deemed like-kind, so investors can own the type of investment real estate that suits them best while leveraging funds that would otherwise go to the taxing authorities. The regulations require use of a qualified intermediary, like Towne 1031 Exchange, LLC, to document the exchange and hold the funds between closings.
1031 exchanges are rule intensive and Towne 1031 Exchange, LLC, a wholly owned subsidiary of TowneBank, prepares all required documentation and helps guide taxpayers through the process.
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ABOUT OUR SPEAKER - Ute Heidenreich serves as President of Towne 1031 Exchange, LLC, a wholly owned subsidiary of TowneBank, where she also is an Executive Vice President and General Counsel. Ute, a native of Germany, is a graduate of the Marshall Wythe School of Law and holds a B.A. from the College of William and Mary. Prior to joining TowneBank in 2008, Ute was an associate at McGuire Woods and served as branch counsel of LandAmerica/Lawyers Title Insurance. She is a frequent presenter on tax deferred exchanges. Ute is a frequent presenter on 1031 exchanges. Ute was selected by her peers to Virginia Business Magazine’s Legal Elite, Corporate Counsel, for each year since the category was added in 2015. For 2024, she was also recognized among the Top Lawyers by Coastal Virginia Business Magazine.
If you have not yet joined the Virginia Real Estate Investors Alliance, please do so. Their purpose is to connect REIs throughout the state of Virginia so we can take action when needed to protect our mutual interests with legislatures. You can find them here:
Website - https://vreia.org/
Facebook Group - https://www.facebook.com/groups/600312952580976
THIS IS AN IN PERSON MEETING, AND ACCURATE RSVPs ARE CRITICAL TO ENSURE WE HAVE THE RIGHT AMOUNT OF FOOD! Sweetwater Cuisine is a catering company known for their amazing culinary skills and will be serving us a buffet lunch for an all inclusive price of $25/person, which includes the space, meal, tax and tip as long as you RSVP. If you attend without RSVPing you can pay $30 at the door.
Please note: EVERYONE WHO ATTENDS MUST PAY FOR LUNCH, WHETHER YOU EAT OR NOT. This is the only way we can keep this a free club. The venue provides us a beautiful space and AV equipment all for the cost of our lunch.
IF YOU HAVE ANY FOOD ALLERGIES OR DIETARY REQUIREMENTS, PLEASE CONTACT SWEETWATER CUISINE DIRECTLY AT LEAST ONE WEEK PRIOR TO THE EVENT AND THEY WILL DO THEIR BEST TO ACCOMMODATE WITH EITHER OUR MENU OR AN ACCOMMODATING MEAL.
All menus include soft drinks, tea, and coffee. Use of the space is included in the cost per person.
