Does a 1033 Exchange Require a Qualified Intermediary?

When hurricane Ian hit southwest Florida in late September of 2022, it destroyed more than 5,000 homes in Lee County and severely damaged another 13,000 residences.1   The damage wrought by Ian left thousands of homeowners pondering their next steps. Homeowners and investors who owned condemned properties may be able to complete a 1033 exchange to replace homes that were destroyed or severely damaged by the hurricane’s wrath.  

Dec 28, 2022
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Can a Title Company Be a Qualified Intermediary?

The potential benefits of employing a 1031 exchange in your investment strategy are attractive. However, as with many appealing tools, investors should be careful and precise in using this one. Since structuring a real estate transaction using the exchange offers the opportunity to defer capital gains taxes, the IRS requires that taxpayers follow the rules precisely.

Dec 21, 2022
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Why Are Qualified Intermediaries Referred to as Accommodators?

Why Are Qualified Intermediaries Referred to as Accommodators?

A Qualified Intermediary plays an essential role in successfully executing any 1031 exchange. This professional has several critical responsibilities to ensure that the exchange complies with IRS regulations. Perhaps most importantly, the QI takes possession of the proceeds from the sale of the identified property when it is sold and maintains those funds separately from the investor until they are used to complete the exchange into replacement property (or properties).

Jun 26, 2022
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Can An Attorney Act as a Qualified Intermediary for a 1031 Exchange?

Can An Attorney Act as a Qualified Intermediary for a 1031 Exchange?

Almost anyone can become a qualified intermediary. That’s because in most states, there aren’t any specific license requirements, tests, or other hurdles to becoming a qualified intermediary. While almost anyone can become a QI, certain conditions will disqualify a person, which we’ll discuss in this article.

Feb 22, 2022
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Qualified Intermediary Installment Sale: What You Need to Know

Qualified Intermediary Installment Sale: What You Need to Know

If you have been paying attention to previous Realized blogs, you know that we’ve written a great deal about Qualified Intermediaries (QIs) and their importance to successful 1031 exchanges. Without help from that experienced QI, the like-kind exchange could be derailed, and you could face triggered capital gain taxes.

Dec 10, 2021
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Is a 1031 Exchange Broker a Qualified Intermediary?

Is a 1031 Exchange Broker a Qualified Intermediary?

There is little doubt that the successful execution of a 1031 exchange involves a lot of moving parts. There are the various IRS deadlines, not to mention the rules and regulations involved with exchanging one like-kind property into another in an effort to defer capital gains taxes.

Dec 7, 2021

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