A 1031 exchange is a provision in the United States tax code that allows an individual or entity to defer paying capital gains taxes on the sale of certain types of investment or business property. Under the 1031 exchange, the proceeds from the sale of the original property are reinvested in a similar type of property, which is referred to as a "like-kind" property. This reinvestment must take place within a certain time frame and follow specific rules and regulations. By deferring the capital gains taxes, the individual or entity can use the full proceeds from the sale to invest in the new property, allowing them to potentially build wealth faster than they would if they had paid taxes on the sale of the original property. It's important to note that
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