Legal Question in Real Estate Law in Florida

Re: Permanent house exchange

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It is hard to imagine that an exchange can be an even exchange. Normally, when parties exchange properties they do a 1031 exchange and save on taxes. There are far to many issues to discuss in the small space afforded here. At the least, you should have an appraisal done, figure out the value of the equity in the properties and determine whether or not an even exchange is reasonable. If not, there should be consideration to make the deal "even" and fair for both parties.

Scott R. Jay, Esq.

Re: Permanent house exchange

You really shouldn't do something like this without a real estate attorney representing you alone. You need current appraisals of both properties, ideally more than one each. Then you need to negotiate considering the values, debts, tax benefits and other factors only your attorney and accountant can identify for you.