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Real Estate & Property Law

: The Home Equity Theft Reporter

Alleged 1031 Exchange Scam Leaves Real Estate Investors With Big Tax Bill & No Money To Pay It With

By r morris

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The New York Post reports: Federal authorities are investigating a Virginia-based finance company that went belly-up last year, sticking hundreds of real-estate investors with millions of dollars in losses, The Post has learned. The 440 investors had parked the proceeds from their real-estate sales with LandAmerica 1031 Exchange Services Inc. in hopes of delaying capital gains taxes - only to

Full post as published by The Home Equity Theft Reporter on February 10, 2009 (boomark / email).

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