Legal 1031 Exchange Services Welcomes Joseph Bonavita as New Director for New England

Legal 1031 Exchange Services Welcomes Joseph Bonavita to New England Team

Legal 1031 Exchange Services, LLC, a premier national provider of qualified intermediary services, has recently announced the hiring of Joseph Bonavita as the exchange director for the New England region. In his new role, Bonavita will oversee client relationships and provide guidance on Internal Revenue Code (IRC) §1031 tax-deferred exchanges, including both reverse and improvement exchanges.

Todd R. Pajonas, the president of Legal 1031, expressed the firm's commitment to the New England market, particularly Boston, stating that adding an experienced professional like Bonavita underscores their dedication to this important area. Bonavita's extensive background in 1031 exchanges is expected to enhance the firm's offering and support to investors and their advisors.

Matthew K. Scheriff, executive vice president of Legal 1031, emphasized the significance of local expertise in ensuring that clients' unique transaction needs are addressed effectively. Understanding the complexities of each client's situation is paramount for facilitating successful 1031 exchanges.

Bonavita brings a hands-on approach to his role, aiming to thoroughly educate clients and their advisors on the rules, regulations, and overall processes of 1031 exchanges. His statement reflects a commitment to delivering exceptional service and comprehensive knowledge, which he believes is vital for a positive client experience. “I’m thrilled to be part of a team that prioritizes client service and knowledge in the 1031 exchange domain,” Bonavita stated.

Legal 1031 operates under Kensington Vanguard National Land Services, which provides a broad range of real estate services across multiple divisions:

1. Commercial Division - This division handles complex commercial real estate transactions, catering to a diverse clientele, including property owners, developers, and institutional lenders.
2. Residential Division - Focused on title insurance and settlement services for residential transactions, this division collaborates with realtors and mortgage originators to ensure smooth processes.
3. 1031 Exchange Services Division - This division, through its subsidiary Legal 1031, employs a team of experts delivering IRC §1031 qualified intermediary services that allow clients to defer capital gains tax on investment property sales.

Kensington Vanguard National Land Services, established in 2002 and headquartered in New York City, is recognized as one of the country’s largest national title insurance and settlement agencies. They service a broad spectrum of clients, from investors to private equity groups, law firms, and lenders, effectively positioning themselves as leaders in the market.

With Bonavita's appointment, Legal 1031 hopes to enhance its local engagement and further solidify its position as a key player in the 1031 exchange service sector. For more information about Legal 1031 and their services, interested parties can visit their website at Kensington Vanguard.