Reply to 1031 exchange rental property exchanged for something with more PASSIVE income?

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[quote=Anonymous][quote=Anonymous]OP again. I will ask a lawyer this as well. From what I understand if you keep the next investment until death, your heirs get the stepped up basis. Could a law change that at any time or would you be grandfathered in due to exchange date?[/quote]

This is a good question.  I'd not count on anything being "grandfathered" as it will depend on the economic and political situation in our country remaining stable for decades (unless you are in your 90s already).  I assume you have a few decades left to live.  We cannot predict what's going to happen a few years from now, it's how volatile everything is.  I am not talking about anything apocalyptic just gradual changes to various laws, especially at local level.   There are many rifts in society that are forcing to revise various taxation practices at local level over time.  Revisions to how you can use your property, landlord/tenant laws, estate taxation, etc.

So far, the tendency is to against the interests of property owners and towards the interests of the "collective" in some areas. If I were to buy an exchange property I'd avoid these areas and focus on areas where property laws are stronger and are more likely to remain strong. [/quote]

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