Adams County Colorado 1031 Tax-Deferred Exchange Programs
LAND, PROPERTY, REAL ESTATE
Adams County Colorado 1031 Real Estate Land Tax-Deferred Exchange
|How to Approach a 1031 Tax-Deferred Exchange.
The best possible approach to a 1031 Tax-deferred Exchange is the TEAM APPROACH. Expertise must come from the following parties involved in the exchange transaction:
BROKER/AGENT: An exchange, as previously stated, is merely a sale followed by a purchase. The agent/broker involved in performing these sales and purchases must understand the exchange concept and should work closely with the Qualified Intermediary to avoid pitfalls and receive guidance throughout the process.
QUALIFIED INTERMEDIARY: Paramount to any exchange is a competent "Qualified Intermediary". The Intermediary is the entity which structures, consults, guides and documents the exchange transaction from beginning to end. A sound Intermediary will provide safety and security for the funds held and provide the technical experience needed to maintain the integrity of the exchange.
ESCROW/TITLE: The Escrow Holder/Closing Agent probably has the most difficult task in the transaction. They are responsible for properly documenting the exchange with the help of the Intermediary. An experienced "Exchange Closing Agent/Escrow Officer" is extremely valuable in the exchange process. The teamwork between the closing Agent/Escrow Officer and the Intermediary is the most important aspect of a successful exchange team.
TAX/LEGAL ADVISORS: Diligent taxpayers will include the advise or guidance of competent advisors prior to the exchange. Advisors will typically interface with the Intermediary.
FOR ALL OF THE INFORMATION YOU WILL NEED, PLEASE CONTACT:
2953 S. Peoria
Aurora, Co 80014
DIRECT TELEPHONE: 303-759-8500
This material is designed only to provide information concerning I.R.C. Section 1031 Tax-Deferred Exchanges. It is not intended to provide or replace legal, accounting or other professional counsel.