Do I Need a Qualified Intermediary for a 1031 Exchange?

A qualified Intermediary (QI) is an unrelated party to a real estate transaction who facilitates a tax-deferred, like-kind, or 1031 exchange. The QI has no economic interest in the transaction except for any compensation, or exchange fee, they may receive for facilitating the exchange as defined in Section 1031 of the Internal Revenue Code (IRS).[…] Read More

How Can a Lawyer Reduce the Risks of a 1031 Exchange?

Despite all the benefits of 1031 exchanges, the process is not without risk to investors. Understanding the pitfalls are important. The following are the rules and risks of 1031 exchanges: In addition to the stringent timelines, there are other things that can make the 1031 process complicated. Choosing the wrong qualified intermediary (QI) is a huge[…] Read More