Following yesterday’s Wall Street Journal story by Peter Grant about the possible elimination of the 1031 tax break program for investors, Jason Gordon, president of AmTrust Title Insurance Company opines:

“Section 1031, which has survived countless tax reform efforts, has been around since 1921; these like-kind exchanges are an essential part of the real estate transaction process, enabling taxpayers to relocate or upgrade into assets that better meet their business needs. They encourage reinvestment, stimulate the economy, and prevent taxation of cash flow when there is evidence of continuity of investment. Doing away with 1031 exchanges would have a deleterious impact on not only the real estate industry overall, but on a plethora of related ones, including contractors, title insurers, lenders, equipment dealers/manufacturers, transportation, energy and agriculture.”

Mr. Gordon is available to discuss the 1031 Exchange program in greater depth.

About AmTrust Title Insurance Company

AmTrust Title is a wholly-owned subsidiary of AmTrust Financial Services, Inc. AmTrust Financial Services, Inc. is a multi-national insurer, offering specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage. The AmTrust Group of Insurance carriers are rated “A” (Excellent), FSC “XIV” by A.M. Best Company, and AmTrust Title was recently rated “A-“(Excellent) by A.M. Best Company and “A” (Exceptional) by Demotech. For AmTrust Title, this combination of strong financial backing and advanced technology translates into immediate strength for real estate clients.