1031 Exchange Counsel
1031 Exchange Attorneys Taking Care of Your Businesses Across North Carolina
Section 1031 of the Internal Revenue Code allows property owners to defer capital gains taxes by reinvesting proceeds from a property sale into a qualifying replacement property. While the tax benefits can be substantial, a successful exchange depends on strict compliance with IRS rules governing timing, property classification, and transaction structure. Manning Fulton’s experienced real estate and tax attorneys routinely counsel clients on tax-deferred exchanges working in close coordination with qualified intermediaries, exchange accommodation title holders, and tax professionals to ensure each exchange is structured effectively from start to finish.
Manning Fulton advises clients on a full range of 1031 exchange structures, from straightforward deferred exchanges to more complex arrangements requiring careful planning and coordination. Our attorneys assist with:
- Deferred (forward) exchanges
- Reverse exchanges
- Build-to-suit and improvement exchanges
- Coordination with qualified intermediaries and exchange accommodation title holders
- Structuring guidance aligned with the client’s tax and investment objectives
Identifying qualifying replacement property and understanding like-kind classifications are among the most consequential decisions in any exchange. Our attorneys advise clients on:
- Like-kind property classifications under Section 1031
- Replacement property identification rules and deadlines
- Single-property and multiple-property identification strategies
- Tenant-in-common (TIC) arrangements
- Entity structure and ownership considerations affecting exchange eligibility
- Drop-and-swap or swap-and-drop arrangement
1031 exchanges are governed by strict timing requirements, and missed deadlines can disqualify an otherwise valid exchange. Manning Fulton helps clients understand and meet their obligations, including:
- 45-day identification period requirements
- 180-day exchange completion deadlines
- Boot recognition and tax consequence analysis
- Entity and titling requirements
- Coordination with CPAs and tax advisors on exchange reporting
Partner With Manning Fulton
Whether you are planning a deferred exchange, navigating a reverse or improvement exchange, or working through complex like-kind or entity issues, Manning Fulton’s attorneys can help. We provide practical, coordinated counsel working alongside your intermediary, CPA, and other advisors to help your exchange transaction close on time and on solid legal footing.
Who We Serve
Manning Fulton’s 1031 exchange clients include:
Individual Investors & Property Owners
Clients seeking to defer capital gains on real estate sales.
Real Estate Developers & Operators
Developers and operators reinvesting proceeds into replacement properties.
Business Owners
Owners exchanging real property used in a trade or business.
Tenant-in-Common Investors
Investors structuring tenant-in-common arrangements.
Family Offices & Private Investors
Clients managing tax-advantaged real estate portfolios.
Clients Needing Coordinated Counsel
Clients needing guidance across real estate, tax, and corporate law.
Related Professionals
Accolades
Best Lawyers: Ones to Watch® in America
Eight Manning Fulton attorneys were recognized in the 2027 edition of Best Lawyers: Ones to Watch® in America.
2027
Recognized attorneys
- Matthew Muntean - Business Organizations; Corporate Law; Mergers and Acquisitions Law
- J. Patrick Bailey, Jr. - Real Estate Law
- Angela C. Baldwin - Corporate Law; Mergers and Acquisitions Law; Trusts and Estates
- Cecilia Barreca - Business Organizations
- Chris N. Bobby - Closely Held Companies and Family Businesses Law; Corporate Law; Mergers and Acquisitions Law; Tax Law
- Lawrence D. Graham - Appellate Practice; Commercial Litigation; Real Estate Litigation
- Corinne E. O’Reilly - Business Organizations
- B. Zack Taylor, Jr. - Real Estate Law
Recognized by Chambers & Partners USA
Manning Fulton’s Commercial Real Estate Practice Group and four attorneys were recognized in the 2026 Chambers USA Legal Guide.
2026
Real Estate practice group selected for North Carolina (Band 3) in 2024-2026
Chambers recognized the following attorneys:
- Mike Medford - Insurance NC (Band 1)
- Barry Mann - Real Estate NC (Band 4)
- Alison Cayton - Real Estate NC (Band 4)
- Doug Short - Real Estate NC (Band 4)
Business North Carolina “Legal Elite”
Fifteen Manning Fulton attorneys were recognized in Business North Carolina’s 2026 “Legal Elite,” with three additional attorneys named “Legal Elite Young Guns.”
2026
Legal Elite
- Mike T. Medford - Antitrust & Complex Business Disputes
- William C. Smith - Bankruptcy
- Judson A. Welborn - Construction
- Jennifer L. Weaver - Corporate Law
- Thomas I. Lyon - Corporate Law
- William B. Gwyn - Corporate Law
- William S. Cherry - Employment
- Jessica B. Vickers - Litigation
- Alison R. Cayton - Real Estate Law
- Douglas J. Short - Real Estate Law
- Joseph B. Bass - Real Estate Law
- Jessica Elliott - Real Estate Law
- B. Zachary Taylor - Real Estate Law
- Sandra M. Clark - Tax & Estate Planning
- Steve T. Byrd - Tax & Estate Planning
- Chris Bobby
- Lawrence D. Graham
- Matthew P. Muntean
North Carolina Super Lawyers
Twenty-three Manning Fulton attorneys were recognized by Super Lawyers in 2026, including 17 Super Lawyers and 6 Rising Stars.
2026
Super Lawyers
- Joseph B. Bass - Real Estate
- Stephen T. Byrd - Estate & Probate
- Alison R. Cayton - Real Estate
- William S. Cherry III - Business Litigation
- Sandra Martin Clark - Estate & Probate
- William B. Gwyn Jr. - Business/Corporate
- Deborah L. Hildebran-Bachofen - Estate & Probate
- Thomas I. Lyon - Mergers & Acquisitions
- Barry D. Mann - Real Estate
- Michael T. Medford - Business Litigation
- Kevin A. Prakke - Securities & Corporate Finance
- Douglas J. Short - Real Estate
- William C. Smith, Jr. - Civil Litigation Defense
- Ritchie W. Taylor - Franchise/Dealership
- Jessica B. Vickers - Business Litigation
- Jennifer L. Weaver - Business/Corporate
- Judson A. Welborn - Business Litigation
- J. Patrick Bailey - Real Estate
- Angela C. Baldwin - Estate & Probate
- Chris N. Bobby - Business/Corporate
- Lawrence Graham, Jr. - Civil Litigation Defense
- Matthew P. Muntean - Business/Corporate
- B. Zachary Taylor - Real Estate
Best Law Firms: Metropolitan Tier 1
The firm secured 26 ranked practice areas, with 19 of those achieving the highest Tier 1 status.
2026
Recognized in:
- Appellate Practice
- Bet-the-Company Litigation
- Business Organizations
- Closely Held Companies and Family Businesses Law
- Commercial Finance Law
- Commercial Litigation
- Construction Law
- Corporate Law
- Health Care Law
- Insurance Law
- Litigation – Construction
- Litigation – Insurance
- Litigation – Labor & Employment
- Litigation – Real Estate
- Litigation – Real Estate
- Litigation & Controversy – Tax
- Mergers & Acquisitions Law
- Real Estate Law
- Real Estate Litigation
- Tax Law
- Trusts & Estates Law
industry
industry
industry
industry
industry