qualified intermediary
- A neutral third party in a 1031 exchange who holds the sale proceeds of a given property until it is replaced, preventing the investor from accessing the funds and thereby avoiding taxes
- The qualified intermediary played a crucial role in the smooth execution of the 1031 exchange.
- Hiring a qualified intermediary ensures that the proceeds from the sale remain untaxed during the exchange.
- The role of a qualified intermediary is to hold transaction funds and prevent tax implications during a property exchange.
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