Dune Title Company, LLC

What can our title company do for you?

• Real Estate Closings
• Commercial & Residential Property
• Refinancing
• Escrow Deposits
• Reissue Credits

The friendly and professional service you will experience from our staff will assure you that your real estate transaction will be handled with the utmost care and professionalism in the most efficient and expeditious manner possible.

We will handle all aspects of your real estate closing. We can hold the earnest money deposit, make recommendations for possible financing and conduct the closing at our office or at a location convenient for you. We are here to help make your real estate transaction as stress-free as possible.

We will match or beat quotes from other title companies.  In addition, our title company is here to accommodate you, our client...offering after-hour and weekend closings available by appointment.

Our title company has the full resources of the law firm of Pleat & Perry, P.A. to handle any and all legal matters arising out of your transaction. Contact our closing department at:

4477 Legendary Drive, Suite 202
Destin, FL 32541
Tel: (850) 650-0698
Fax: (850) 837-0698

What is a 1031 Exchange?

Section 1031 of the Internal Revenue Code allows a taxpayer to defer or postpone the payment of capital gains tax from the sale of investment real estate if the proceeds are reinvested into "like-kind" property. You must have held the relinquished property and you must hold the replacement property for investment or for productive use in a trade or business. A 1031 Exchange, or tax free exchange, is when you trade one property for another without having to pay any federal taxes on the transaction. In an ordinary real estate transaction, the property owner is taxed on any gain realized by the sale of the property. But in a 1031 Exchange, the tax on the transaction is deferred until some time in the future, usually when the newly acquired property is sold. Specifically, when you sell real estate, you have to pay taxes on the gain from the sale of the property. This gain is either caused by the real estate property appreciating over time or by taking depreciation deductions for tax purposes. A 1031 Exchange offers you an exception to the imposition of the capital gains tax, pursuant to the IRS Code. With a 1031 Exchange, when you sell business or investment real estate, you can defer the payment of the tax that is due on the sale. If your objective is to use the proceeds from the sale of your property to buy more business or investment real estate, a 1031 Exchange can provide you with more funds for investment than would be available through the investment of after-tax proceeds.

Important Things to Know About a 1031 Exchange:

1. The old property/property you are wishing to sell is also known as the Relinquished Property. The new property/property you are interested in purchasing is called the Replacement Property.
2. You must give to your Qualified Intermediary in writing a list of potential Replacement Properties that you may wish to purchase as Replacement Property. The list must be given within 45 days of the closing date of your Relinquished Property. There are, however, some limitations on how many properties may be listed.
3. You must close on your Replacement Property within 180 days of the closing of your Relinquished Property with one of the properties listed on your "45-day list".
4. By law, you cannot have control of the proceeds from the sale of the Relinquished Property. Those proceeds must be held by a Qualified Intermediary, such as our affiliate law firm, Pleat & Perry, P.A. You cannot leave the proceeds in escrow until the second property is acquired, nor can you have a friend, employee, broker or personal attorney hold onto the money for you. Pleat & Perry, P.A. can act as your Qualified Intermediary and hold the money for you in an interest-bearing escrow account.
5. Whoever is on the title of the Relinquished Property has to remain on the title of the Replacement Property.
6. In order to avoid paying taxes on your gain, you must reinvest your cash proceeds and buy a property of equal or greater value of the Relinquished Property.

Pleat & Perry, P.A.
Attorneys At Law

What can our affiliate law firm do for you?

David B. Pleat, Esq. and Amy A. Perry, Esq. have over 40 years of combined legal experience.

• Review/Prepare Real Estate Contracts
• Preparation of Deeds
• Foreclosure Litigation and Defense (Mortgagee and Mortgagor)
• Condominium/Homeowners Association Claim of Liens and Satisfaction of Liens
• Commercial Development and Developer Reservation Agreements and Escrow Deposits
• Real Estate Contract Disputes
• Real Estate Litigation
• Construction/Developer Litigation
• Personal Injury/Criminal/Family Law

Pleat & Perry, P.A. will provide all of the necessary 1031 Tax Exchange documents and will deposit your funds into an interest bearing escrow account. Their staff is dedicated to serving you in the most efficient, professional, and expeditious manner possible. We look forward to assisting you in your real estate transaction. $1,000 Intermediary Fee: This is the minimal fee for participation in a basic exchange, the disposition of your Relinquished Property and the acquisition of one of your Replacement Properties.

Please call Pleat & Perry, P.A. at (850) 650-0599.

*The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience.