A written agreement between the exchanger and the Qualified Intermediary (QI) defining the transfer of the relinquished property, the ensuing purchase of the replacement property, and the restrictions on the exchange proceeds during the exchange period.
The exchange agreement is also called the exchange contract. It is a bundle of documents prepared by the QI. These documents include:
The agreement must be assignable. Meaning, the agreement is assignable to the QI so that the QI can perform the 1031 exchange.