While working with a US-based client on a series of property acquisitions in the Caribbean, he had the idea of performing a couple of nifty 1031 exchanges in Puerto Rico. Emotions were running high that he could achieve this with a significant amount of tax savings. I warned him to be a bit more circumspect. If there is anything my international real estate experience has taught me, it is not to take anything for granted. I suggested that we confirm that a 1031 exchange is possible. A good thing I did. We conferred with a renowned local Puerto Rico tax expert, Manuel López Zambrana of Manuel López Zambrana, PSC (nolin@mlzlaw.com), and More >