No. It is unethical for any attorney to guarantee any outcome on a case.

The term 1031 Exchange refers to section 1031 of the IRS Code which allows investors to “defer” payment on capital gains taxes, specifically those related to the sale of investment properties, so long as the profit gained from the sale of an investment property is used for the purchase of a “like-kind” property.

Although it is possible a traditional 1031 exchange where one property is literally swapped for another like kind can happen, it is very unlikely that the owner of the property you are purchasing wants the property you are selling. Most exchanges occur as three party or delayed exchanges in which a middleman holds the funds after the sale of your property and is then used to purchase the new property.

The Rent Security Deposit Act applies to most rental units, except owner-occupied buildings with no more than two additional units. However, if a tenant in such a building sends a 30-day written notice, the landlord must comply with the law.

Notice Requirements: Landlords must keep the deposit in a separate interest-bearing bank account and notify tenants within 30 days with the bank details and interest rate. Annual interest notices are also required, and new landlords must notify within 30 days of acquiring the property.

Tenant Rights: If a landlord fails to provide notice, tenants may send a written request (regular and certified mail) for the security deposit to be used for rent. The landlord has 30 days to respond.

Deposit Limits: Security deposits are capped at one-and-a-half times the monthly rent. Increases are allowed as rent rises but are limited to 10% of the current deposit per year.