1031 Exchange Agreement With Qualified Intermediary In San Antonio
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We protect your documents and personal data by following strict security and privacy standards.
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FAQ
As the nation's largest Qualified Intermediary, IPX1031 provides industry leading exchange services including guidance, expertise and security for 1031 Tax Deferred Exchanges.
The QI must maintain the funds involved in the transaction separately from the taxpayer's accounts, and the qualified intermediary must be a neutral party. The intermediary can be a person, company, or other entity, but must not be related or married to the taxpayer.
In a three or four party exchange, including the Taxpayer, Buyer of the old property and Seller of the replacement property, then yes, a Qualified Intermediary is required. The g(6) constructive receipt limitations of the 1031 code prohibit the taxpayer from touching the exchange funds or the net equity from the sale.
What to Look for in a Qualified Intermediary Transparency. It is essential to know who you are dealing with when choosing a facilitator. Business history. A reputable QI should be able to provide credible references. Communication and customer service. How funds are managed.
As the nation's largest Qualified Intermediary, IPX1031 provides industry leading exchange services including guidance, expertise and security for 1031 Tax Deferred Exchanges.
Without a qualified intermediary and an exchange agreement, the IRS may not recognize the transaction as a valid 1031 exchange.
A Qualified Intermediary (QI), also referred to as an Accommodator or Facilitator, is a an entity that facilitates Internal Revenue Code Section 1031 tax-deferred exchanges. The role of a QI is defined in Treas. Reg. §1.1031(k)-1(g)(4).
The first step in a 1031 exchange is to contact a qualified intermediary (such as First American Exchange), who will create exchange documents that must be signed before the relinquished property is transferred.
