This is an exchange rate addendum to a requirements agreement. It discusses the exchange rate and provides details on the way certain foreign currencies will be established.
Virgin Islands Exchange Rate Addendum
Category:
State:
Multi-State
Control #:
US-TC0615
Format:
Word;
PDF;
Rich Text
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FAQ
The USVI is considered a US Property for a 1031 exchange - meaning investment properties on the islands are eligible. Learn why the US Virgin Islands is a great place to invest - and why now is the time to do it.
This addendum signifies intent to use the property in a 1031 exchange. At this point, the buyer and their agent are formally made aware of such an exchange. The seller can also assign a QI to the exchange in this addendum.
Seller acknowledges that it is the intention of the Buyer to acquire property as part of a tax-deferred exchange under Internal Revenue Code Section 1031. Seller agrees to cooperate as long as it does not delay the closing or cause additional expense to the Seller.