You keep the client. We keep the exchange in order.

Who we work with

• Title officers — the four documents before the deed records, and the funds at the closing table.
• Escrow officers — the order of events on a California escrow, and the dates to write on the file.
• Commercial brokers — two transactions, often in two states, kept on one timeline.
• Attorneys — documents, deadlines and the disqualified-person rules.
• CPAs — the exchange creates work that stays with you.
• Wealth managers and family offices — staying central to a large, time-bound decision.

How the work divides

We handle	You keep
The exchange agreement, assignment and notices	The client relationship
Holding exchange proceeds and paying them out on written instruction	Legal, tax and investment advice
Tracking day 45 and the end of the exchange period	Decisions about price, property and financing
Receiving the identification and the closing paperwork	Your own fees for your own work

Why an intermediary at all

Under the regulations, an exchanger who receives the sale proceeds, or has the right to them, can lose deferral. A qualified intermediary is the safe harbor nearly every deferred exchange uses to avoid that (Treas. Reg. §1.1031(k)-1(g)(4)). The regulation also keeps the people closest to the client out of the intermediary's seat: anyone who acted as the exchanger's attorney, accountant, employee, broker or real estate agent within the two years before the first transfer is a disqualified person, with narrow exceptions (Treas. Reg. §1.1031(k)-1(k)). That is why the trusted advisor and the intermediary are usually two different firms.

Working together

Every partnership is structured around the professional and regulatory rules that apply to your firm. We discuss how we work together directly.

Institutional 1031 does not provide tax, legal or investment advice.