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Tag Archives: qualified intermediary

Where can I park my 1031 Exchange money?

Sunday, March 13, 2011

The best and safest place (the only place!) to park  your 1031 Exchange proceeds is with your Qualified Intermediary (Realty Exchangers). This agreement is reached BEFORE you sell your 1031 Exchange property. You cannot sell your property then decide after the fact that you want a 1031 Exchange. There a several reasons for this but the best [...]

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Can I do a 1031 Exchange without a Qualified Intermediary?

Saturday, March 5, 2011

The rules for Safe Harbor make it VERY difficult to accomplish a 1031 Exchange without a Qualified Intermediary. The Safe Harbor provisions were added to the 1031 exchange rules to protect you from Constructive Receipt of your 1031 Exchange proceeds, which are intended solely to be re-invested in your 1031 Exchange Replacement Property. While it [...]

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How do I find a 1031 Exchange qualified intermediary in New Jersey?

Saturday, March 5, 2011

Taxpayers often then that they need to find a local Qualified Intermediary located in their own city or state. This is far from true. 1031 Exchange is a federal IRS action taken by tax payers to delay the Capital Gains tax owned on the sale of their investment or business property. You may 1031 Exchange [...]

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My Realtor told me I should avoid using a Qualified Intermediary for my 1031 Exchange. Please Explain?

Monday, February 21, 2011

Interesting, though not surprising. There are a number of professionals, including some mis-informed Realtors, in the Real Estate industry who fail to understand how a 1031 Exchange works or how easy they are to execute. True recent news does include reports of Qualified Intermediaries with unsafe funding practices, but most QI’s are solid companies with [...]

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Can a Realtor be a 1031 Exchange Qualified Intermediary?

Tuesday, January 18, 2011

Yes and no. There are no laws preventing anyone from becoming a 1031 Exchange Qualified Intermediary. If a Realtor wants to become a QI, there is nothing prohibiting this from happening. However, it should be noted that it goes against the Safe Harbor laws for a Realtor to act as 1031 Exchange Qualified Intermediary for [...]

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Can my Title Company force me to use their 1031 Exchange Qualified Intermediary?

Friday, January 7, 2011

Absolutely not! Your 1031 exchange Qualified Intermediary is completely YOUR CHOICE! In fact, the safe harbors of IRS Section 1031 Exchange specifically permit the Qualified Intermediary to be your agent, answerable only to you—absolutely no one else. Real or perceived. We also suggest that you you be careful of “steering.” Steering is the act by real [...]

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What is a 1031 Exchange Qualified Intermediary?

Wednesday, December 29, 2010

A Qualified Intermediary is a person (or company) who, for a fee, acts to facilitate the 1031 exchange by entering into an agreement with you for the exchange of properties. An intermediary is treated as acquiring and transferring property if: The intermediary acquires and transfers legal title to that property. The intermediary (either on its [...]

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I did a 1031 Exchange back in 2003 and am selling the property soon. Will I have to pay capital gain on the sale if I don’t buy another property?

Thursday, December 23, 2010

1031 Exchange, tax-deferred exchange, real estate exchange, like-kind exchange, IRS section 1031 Exchange….these all mean the same thing and are a vehicle for deferring the capital gains on an investment property or business property until your next sale. A common mistake that people make is with a 1031, they think they will NEVER have to [...]

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