Now partnering with All States 1031   
1031 Property Exchange
SEARCH:
Home        About Us        Basics        Why SPEX?        Links        Tools        Contact Us        Login

We are a qualified 1031 exchange company


 

Exchange Agreement

The owner of the property and the QI enter into an exchange agreement on or before the date of the sale (forward) or purchase (reverse) providing:

  • The sale of exchange property and the purchase of the exchange property are interdependent, that is, they both must happen for the exchange to be complete.
  • The exchange agreement must contemplate a reciprocal transfer rather than a transfer of property for money consideration only.
  • Access to the funds is restricted so the owner is not considered to be in receipt of the funds.

Contract Assignment

  • The sale agreement for the asset to be sold must be assigned to the Exchange Company prior to the date of the sale.
  • The purchaser for the asset to be sold must acknowledge the assignment on or before the date of the sale.
  • The purchase agreement for the replacement property must be assigned to the Exchange Company.
  • The seller of the replacement property must acknowledge the assignment on or before the date of the purchase.