What’s that Rule Again?
Posted in Newbridge Exchange on Nov 10th, 2009
In its simplest terms, a Qualified Intermediary (QI), facilitating a Section 1031 Exchange, acts as a third party in the sale of Relinquished Property (old property). The QI’s job is twofold: a) memorialize and document the intent of the taxpayer and b) function as escrow agent for the net proceeds from sale. Section 1031 is [...]
