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Real Estate

The team of real estate attorneys at McDaniel, Wolff & Benca PLLC have assisted clients in the Central Arkansas commercial real estate market for decades. We know that each parcel of real estate is unique, and likewise every property transaction presents different challenges and opportunities. We will work with you to find creative, cost-effective solutions and help minimize risk and maximize profit associated with your real estate investment.

Our team of real estate attorneys are led by Rufus Wolff and Vince Ward. If we can be of service, call us today at 501-954-8000, or submit an inquiry via our contact form available here.

real estate attorney

Full-Service Real Estate Practice

At McDaniel, Wolff & Benca PLLC, our real estate clients see us as more than just lawyers. We are their business counselors, transactional advisors, risk managers, and growth strategists. Our clients include real estate investors, contractors, and lenders of all sizes located throughout Arkansas and beyond.

Our real estate attorneys regularly counsel clients on the following, and much more:

  • Sales and Acquisitions
  • Commercial & Residential Leasing
  • Secured Financing and Mortgaging
  • Easements, Liens and Encumbrances
  • Foreclosures and Debt Workouts
  • Horizontal Property Regimes
  • Subdivision Bills of Assurances & Covenants
  • Oil & Gas Interests
  • Quiet Title Actions
  • Unlawful Detainer Actions (Evictions)
  • Real Estate Litigation & Dispute Resolutions
  • Development & Construction Agreements
  • Property Management Agreements
  • Property Joint-Use Agreements
  • Local Zoning and Land Use Restrictions
  • Qualified Opportunity Funds
  • 1031 Exchanges and Income Tax Planning
  • Obtaining Arkansas Economic Development Incentives
  • Solar Project Leasing

Whether a standard transaction involving residential real estate, or a large-scale commercial development, any real estate transaction can present numerous issues such as title defects, environmental issues, unexpected liens and taxes, landlord/tenant liabilities, or zoning issues. Our experienced team of real estate attorneys can identify such issues before the transaction takes place and provide innovative cost-effective solutions.

Our wide range of practice areas enables our team to have real estate experience across all asset types, in both regional and national markets. We work with a variety of clients on both sides of the negotiating table and through business cycles, from growth to decline. Such exposure allows us to see all aspects of a real estate transaction and market maturities to anticipate issues and determine the best course to meet our clients’ goals.

Like-Kind / 1031 Exchanges

Our tax practice allows us to provide premier guidance with respect to structuring tax-efficient real estate acquisitions and divestitures, such as providing counsel on tax-deferred like-kind exchanges under Section 1031 of the Internal Revenue Code. Our real estate attorneys can assist with any type of 1031 exchange, including the following:

  • Delayed 1031 Exchanges – Also known as forward exchanges, this is when property is sold and replacement property is purchased within 180 days after closing. Replacement property must be identified within 45 days of the date that the first property is sold. An unrelated third-party known as the qualified intermediary holds the proceeds from the sale of the relinquished property until the closing of the replacement property.
  • Reverse 1031 Exchanges – An exchange in which the replacement property is purchased and closed on before the relinquished property is sold. The qualified intermediary takes title to the replacement property and holds title until the taxpayer can sell his relinquished property. Subsequent to the closing of the relinquished property (or simultaneous with this closing), the qualified intermediary conveys title to the replacement property to the taxpayer.
  • Simultaneous 1031 Exchanges – An exchange in which the closing of the relinquished property and the replacement property occur on the same day, usually back-to-back. There is no interval of time between the two closings.
  • Improvement 1031 Exchanges  – An improvement exchange allows you to structure a 1031 exchange transaction where you can sell your relinquished property and use the proceeds from the sale of your relinquished property to acquire replacement property.  It also allows you to use some of your sale proceeds to improve the acquired replacement property as part of your 1031 exchange transaction.
Real Estate Attorney

Experienced Real Estate Attorneys

In today’s real estate climate, deals can be won or lost in a matter of days–even hours–making prompt response time critical. Streamlined processes contribute greatly to the cost-effective services we are able to provide our real estate clients. It is this combination of experience, promptness, and precise processes that makes our real estate attorneys a premier group.

Our real estate attorneys manage complex and multi-disciplinary transactions involving numerous players and guide them to a timely and successful close. True to our partnering philosophy, what matters to us is the satisfaction of our clients…not the size of the deal. Whatever your real estate need, you can have confidence that your interests will be protected when you work with our lawyers.

If we can be of service, call our real estate attorneys today at 501-954-8000, or submit an inquiry via our contact form available here.

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