- 1031 Exchanges
- Tenants-In-Common
- Exchange Details & Requirements
- Real Estate Professional
Dual Registration Program - Tax Professionals, Legal Advisors & Northland Securities1031
- About Us
- The Tax Deferred Exchange
- How to Initiate an Exchange
- 1031 Exchange Requirements
- Do's & Don'ts of 1031 Exchange Planning
- Can Your Tax Professional or Legal Advisor Be Your Qualified Intermediary?
- Exchange Terminology
- Like-Kind Property
- 1031 Qualified Property
- Delayed Exchange Deadlines
- Tenant-In-Common Interests
- Master Lease-Tenants-In-Common
- Non-Tax Reasons to Exchange
- Role & Selection of a Qualified Intermediary
- Role of a Tax Professional or
Legal Advisors - Disqualified Parties
- Tenants-in-Common Research &
Due Diligence Reports - Exchange Language
Exchange Language
An Exchanger must include specific 1031 Exchange Language in the sales agreement in order to qualify for Safe Harbor Provisions of a 1031 exchange.
“Buyer hereby acknowledges that it is the intent of the Seller to effect an IRS Section 1031 tax-deferred exchange which will not delay the closing or cause additional expense to the buyer. The Seller’s rights under this agreement may be assigned to a Qualified Intermediary (QI) named by the Seller, for the purpose of completing such an exchange. Buyer agrees to cooperate with the Seller and the QI in a manner necessary to complete the exchange.”
To discuss appropriate sales contract language, contact Northland Securities1031, a qualified tax professional, legal advisor and qualified intermediary.