Who do I contact to do a 1031 exchange?

1031 exchanges are complex, using an exchange accommodator like Equity Advantage puts a professional in your corner who knows all the rules. It just takes a phone call to get started, 503-635-1031.

Who is the exchanger in a 1031 exchange?

An exchange is rarely a swap of properties between two parties. Most exchanges involve multiple parties: the Exchanger, the buyer of the Exchanger’s old (Relinquished) property, the seller of the Exchanger’s new (Replacement) property, and a Qualified Intermediary.

Who can facilitate a 1031 exchange?

qualified intermediary
A qualified intermediary (QI) must facilitate a 1031 exchange. The QI is a person who holds funds from the relinquished property and uses them to acquire the new replacement property. These funds never come into contact with the property owner, who is involved in the 1031, per the IRS 1031 rules.

When to call the 1031 Exchange Place office?

At 1031 Exchange Place, many real estate investors contact our office just minutes before closing on their transaction and successfully convert a sale into a 1031 exchange. In most situations, a successful exchange can be accomplished as long as 1031 Exchange Place is contacted prior to closing.

What should be added to the contract in a 1031 exchange?

What language should be added to the contract in a 1031 exchange? Although many exchangors usually include language in their Purchase and Sale Agreement in order to establish their intent to perform an exchange, it is not required by the Internal Revenue Code.

Do you need to consult a lawyer for 1031 exchange?

Legal 1031 Exchange Services, LLC does not provide tax or legal advice, nor can we make any representations or warranties regarding the tax consequences of your exchange transaction. Property owners must consult their tax and/or legal advisors for this information.

How does a 1031 tax deferred exchange work?

An IRC §1031 tax deferred exchange allows owners of real estate to defer the recognition of a capital gains tax they would normally recognize when they sold their property. Exchanging allows investors to reinvest money into new business or investment real estate that would otherwise have been paid to the government as a capital gains tax.