In honor of Memorial Day, Northern Bank branches and the Contact Center will be closed on Monday, May 27. As always, mobile banking, online banking and our ATM network are available to you 24/7.

December 3, 2021

Seven ways 1031 Exchange helps achieve investment goals

1031 Exchange

In this article published in the September 2020 New England Real Estate Journal, Northern 1031 Exchange Vice President, Michele Fitzpatrick, shares the many reasons why real estate investors choose to exchange properties.

Understanding how you might benefit from a 1031 Exchange is the first step in determining whether or not it is right for you. Investors come in all sizes and have many different reasons and motives for holding and selling real estate. To help investors get started down the road of exchange, Fitzpatrick lists the Top 7 Reasons why her clients exchange and how they maximize the benefits.

Estate planning, diversification, consolidation and increased depreciation are just a few benefits that rise to the top of the list. However, there are many other situations investors are faced with that are improved by exchanging. Knowing the Top 7 Reasons gives you a solid foundation for considering the possibility of a 1031 Exchange and how it might benefit your individual situation.

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About Northern Bank & Trust Company

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $2.87 billion with 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.

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