Comments on: In CA, is there a legal way to trade homes or property with equal values? http://www.excelsiorstreet.com/home-property-values/in-ca-is-there-a-legal-way-to-trade-homes-or-property-with-equal-values Sun, 05 Feb 2012 14:58:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Sweet Lady Mom http://www.excelsiorstreet.com/home-property-values/in-ca-is-there-a-legal-way-to-trade-homes-or-property-with-equal-values/comment-page-1#comment-352 Sweet Lady Mom Sun, 29 Nov 2009 10:07:59 +0000 http://www.excelsiorstreet.com/home-property-values/in-ca-is-there-a-legal-way-to-trade-homes-or-property-with-equal-values#comment-352 Lenders generally will not allow a substitution of collateral, so you would need to contact your lender.<br><b>References : </b><br>20 years re Paralegal Lenders generally will not allow a substitution of collateral, so you would need to contact your lender.
References :
20 years re Paralegal

]]> By: A_Kansan http://www.excelsiorstreet.com/home-property-values/in-ca-is-there-a-legal-way-to-trade-homes-or-property-with-equal-values/comment-page-1#comment-351 A_Kansan Sun, 29 Nov 2009 09:20:59 +0000 http://www.excelsiorstreet.com/home-property-values/in-ca-is-there-a-legal-way-to-trade-homes-or-property-with-equal-values#comment-351 No, in almost all loans anymore, there is a Due on Sale clause. By trading homes, you are actually selling your home for the value from someone else's home. *******More Info on the subject******** If you are trading investment properties, it is called a 1031 exchange. You will trade properties without incurring a tax liability. If it is your private home, you can actually sell it after 2 years without incurring a tax liability if the value is less than $500,000. The changed that amount a couple of years ago, and I may be off on the exact amount that is exempt from taxes. Now if someone has a house you want, and you have a house they want, you can actually purchase each others house for $1. The government will declare the transaction not to be a valid sale for the assessment of property taxes though. What that means, is they won't value the property at $1, but at the previously appraised amount. You can contact a Land Office. They can help you close the deal. Be for warned though, because there are two houses involved, your closing costs will be doubled. Good Luck.<br><b>References : </b><br>Landlord No, in almost all loans anymore, there is a Due on Sale clause. By trading homes, you are actually selling your home for the value from someone else’s home.

*******More Info on the subject********

If you are trading investment properties, it is called a 1031 exchange. You will trade properties without incurring a tax liability.

If it is your private home, you can actually sell it after 2 years without incurring a tax liability if the value is less than $500,000. The changed that amount a couple of years ago, and I may be off on the exact amount that is exempt from taxes.

Now if someone has a house you want, and you have a house they want, you can actually purchase each others house for $1.

The government will declare the transaction not to be a valid sale for the assessment of property taxes though. What that means, is they won’t value the property at $1, but at the previously appraised amount.

You can contact a Land Office. They can help you close the deal. Be for warned though, because there are two houses involved, your closing costs will be doubled.

Good Luck.
References :
Landlord

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