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What is the role of a Qualified Intermediary in a 1031 Exchange?

What is the role of a Qualified Intermediary in a 1031 Exchange?

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In a 1031 exchange, the third-party intermediary, or qualified intermediary (QI), fulfills documentation requirements and oversees that the sale proceeds are held until the exchange is complete and fully meets the guidelines required by the IRS. A qualified intermediary helps the property owner understand how a 1031 exchange works and interacts with the title company or closing attorney so that the closing statement reflects a 1031 exchange.

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