1031 Exchange Agreement With Qualified Intermediary

State:
Multi-State
Control #:
US-00333
Format:
Word; 
Rich Text
Instant download

Description

This form states that the owner of certain property desires to exchange the property for other real property of like kind and to qualify the exchange as a nonrecognition transaction. The agreement also discusses assignment of contract rights to transfer relinquished property, resolution of dispute, indemnification, and liability of exchangor.
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  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate
  • Preview Exchange Agreement for Real Estate

How to fill out Exchange Agreement For Real Estate?

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FAQ

Institutional Qualified Intermediaries, like Exeter 1031 Exchange Services, LLC, typically charge a set-up or administrative fee in the range of $850.00 to $1,200.00 for each 1031 Exchange transaction.

Line 1: List the address or legal description and type of property relinquished (sold). Line 2: List the address or legal description and type of property received. Line 3: List the month, day, year relinquished property was originally acquired. Line 4: List the date relinquished property was transferred to the buyer.

The Use of a Qualified Intermediary is RequiredThat requirement eliminates the ability of an investor to complete a 1031 exchange without assistance. The qualified intermediary cannot be the investor and cannot work for, be related to, married to, or an agent of the investor.

A successful 1031 exchange isn't a do-it-yourself project. You must follow IRS rules to realize the tax deferral benefits and you'll need a middle person, called a qualified intermediary (QI).

Steps to Successfully Complete a 1031 ExchangeIdentify Your 1031 Exchange Objectives & Property Search.Find a Qualified Intermediary.Add a Cooperation Clause in Your Sales Contract.Provide a Copy of the Contract to the Intermediary.Funds for the Exchange are Wired to the Exchange Account.More items...?

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1031 Exchange Agreement With Qualified Intermediary