(The following is an excerpt from our 1031 Advisor newsletter located here )
Are Banks (actually or legally) Qualified Intermediaries (QIs)?
Requirements for Banks to Hold Proceeds from Sale of Relinquished Property
What is the Downside of Banks nor meeting these Requirements?
What are Other Situations where a Bank may NOT be used as a QI?
How can you know if a Bank does not understand the rules under Section 1031, or disregards the rules?
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