You are about to leave the official website for Virginia Commonwealth Bank. Click Continue to proceed or click the “x” above to close this and remain on our website.
It's free, convenient, & easy to use
Login with VCB Banking App
No thanks, I want to login on the web >
A 1031 Tax-Free Exchange is a transaction in which a taxpayer is allowed to exchange one investment property (relinquished property) for another (replacement property) by deferring the tax consequence of a sale. The transaction is authorized by §1031 of the IRS Code. Under section 1031, any proceeds received from the sale of a property remain taxable. For that reason, proceeds from the sale of the relinquished property, must be transferred to a qualified intermediary (Virginia Commonwealth Bank), rather than the seller of the relinquished property, and the qualified intermediary transfers the proceeds to the seller of the replacement property or properties.
When you're ready to get started, simply visit any of our convenient branch locations and take your banking to an EXTREME level!
Find a Branch Near You
More on 7 Essentials
If you’d like to learn more or take advantage of our 1031 Tax-Free Exchange, simply complete the form below to get started. Bonnie Howle will be in touch to get you started.
*Indicates which fields below are required.