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Frequently Asked Questions

1. What is an IRC § 1031 Exchange?

2. What Real Estate qualifies?

3. Who can help me make such an exchange?

4. Why not leave the money in escrow with instructions not to disburse until a replacement property is located?

5. How can I be sure my money is going to be safe with the Qualified Intermediary?

6. Do the values of exchanged property have to be the same?

7. Do I have to deposit all monies from the sale of the Relinquished Property with the Q.I. while the exchange is pending?

8. When should the Qualified Intermediary begin to participate in the exchange? 		9. Can the money be held in an interest bearing account?

10. Can earnest money or other expenses be paid from the proceeds held by the Qualified Intermediary?

11. Who signs the Purchase Contracts?

12. If the exchange is canceled or if money is left over after some of the Replacement Property is acquired, may I get the money back, and when?

13. Who signs the escrow instructions and transaction documents?

14. What if a loan is necessary to acquire the Replacement Property?

15. What language should be on the Purchase Agreement?
 
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