Give each transaction party the same exchange facts
A 1031 exchange can involve a Certified Public Accountant (CPA) and other transaction professionals. Clear coordination can prevent document conflicts.
Contact the exchange team before the applicable closing. Give the next closing date and property sequence first.
For real estate brokers
Tell the exchange team if the client will sell first, buy first, or improve replacement property. Give the signed contracts and current dates.
Do not promise that a transaction will qualify. Ask the client's tax and legal advisors to approve the plan.
For CPAs
Confirm the taxpayer, property use, adjusted basis, gain, liabilities, tax-return due date, and state reporting. Give the approved tax assumptions to the team.
The exchange team can provide transaction records. The tax advisor remains responsible for tax calculations and return positions.
For attorneys
Review the taxpayer, title, contracts, assignments, related parties, entities, and proposed accommodation structure. Resolve ownership changes before the applicable transfer.
The exchange team can prepare its exchange documents. The attorney remains responsible for legal advice and transaction documents outside that role.
For escrow and title personnel
Confirm the exchange party, assignments, notices, settlement statement, title path, and funds instructions. Use the exact taxpayer and property names.
Call the exchange team when a closing date or funds instruction changes. Do not send sensitive documents through an unapproved channel.
For lenders and insurance personnel
A reverse or improvement exchange can use an Exchange Accommodation Titleholder or an approved entity. The transaction documents must agree with that structure.
Review the proposed structure before the purchase closes. Do not assume that ordinary borrower and title forms will apply.
Information for the first coordination call
- The taxpayer and ownership entity.
- The relinquished and replacement properties.
- The sale and purchase sequence.
- The expected closing dates.
- The signed contracts and amendments.
- The title and escrow contacts.
- The lender and insurance contacts.
- The active exchange deadlines.
- The approved advisor decisions.
Who contacts the Qualified Intermediary?
Any transaction party can start the coordination. The taxpayer must approve the engagement and sign the applicable exchange documents.
Can a broker or escrow officer give the client tax advice?
Each professional must stay inside the professional role. The taxpayer's tax advisor and attorney must approve tax and legal conclusions.
What happens when a closing date changes?
Tell the exchange team and all advisors immediately. The change can affect documents, financing, insurance, and exchange periods.
How do we send sensitive documents?
Ask the exchange team for the approved secure delivery method. Do not send account numbers or wire instructions through the public form.
Coordinate the next transaction
Call 888-747-1031 before closing. Use the contact page for a nonurgent referral or coordination request.
This page gives general information. It does not give tax, legal, brokerage, escrow, title, lending, insurance, or financial advice.