Newbridge Exchange, LLC

Under the rules and regulation of Section 1031, your exchange is not valid if you are in constructive receipt of the proceeds of the sale of the relinquished property. That is, if you receive or have control over the funds.  To avoid this pitfall, you must engage a Qualified Intermediary (QI) to handle the funds.

Your choice of a Qualified Intermediary is crucial to the success of your exchange because:

• The rules and regulations governing property exchanges are complex.  You need a Section 1031 expert to assess the transaction and create your Exchange Agreement correctly so that you gain maximum benefit from your exchange.  The cost and penalties of an improperly structured exchange can have far reaching financial consequences.
• You need to know that your funds are secure. Your QI holds your funds throughout the exchange process. You must choose someone you can trust to handle your funds securely, honestly and wisely.
• Your Qualified Intermediary must work closely with your attorney, your accountant and your real estate agent. Critical details must be attended to and timing in Section 1031 exchanges is critical to the successful exchange. Your QI must be available to deliver prompt, responsive service to your and your advisors.