When you do a 1031 exchange you want to do your due diligence on your qualified intermediary because you’re going to be entrusting them to hold your proceeds and to prepare the paperwork necessary to complete the 1031 exchange. So you want to work with a reputable outfit. Here are a few questions you’ll want to ask of your qualified intermediary:
Do you have errors and omissions insurance?
Do you have professional liability insurance?
Do you have separate, segregated accounts?
Do you have a qualified escrow deposit agreement in place where the bank is going to be the gatekeeper to authorize the disbursement of your funds?
At CPEC1031, we have all of these items and more to safeguard your exchange. All of this is part of a plan to make sure the client can sleep at night. If necessary we can even build additional safety and security protocols if you have massive transactions.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
© 2023 Copyright Jeffrey R. Peterson All Rights Reserved