Article on who can be a Qualified Intermediary (hint: not your attorney or real estate agent)
Gain 1031 Exchange Co. is managed by Patrick T. Harrigan. Patrick is a Certified Exchange Specialist and a member of the Federation of Exchange Accommodators reflecting the highest standard in knowledge and expertise in the exchange industry
Gain 1031 Exchange is proud to be a Sponsor of the Wisconsin Land Title Association 2023 Annual Convention
A 1031 exchange, also known as a like-kind exchange, tax free exchange or Starker exchange is a way to defer payment of taxes on the sale of real estate. The seller cannot sell the property outright. To have a valid exchange, the property being sold must be exchanged for other property through a specific process.
That is where we come in. The exchange rules require using a Qualified Intermediary, such as Gain 1031 Exchange Company, to facilitate the exchange and hold the proceeds funds from the sale in an escrow account. If the seller/exchanger touches those proceeds funds, they become taxable.