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
We work with attorneys and title closers in all areas of investment real estate
A locally based intermediary that has exchange expertise is a difficult combination to find. We receive referrals from title companies around Wisconsin, Minnesota and North Dakota due to our ability to handle every type of exchange from the simplest to the most complex
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. As the name implies, 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.