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1031 Exchange Purchase And Sale Agreement

1. By executing this addendum Exchange, buyers and sellers intend to incorporate this addendum into their existing agreement in order to ___________Verkäufer Other___________ structure its share of the above transaction as an IRC tax exchange as amended. 4. Legal 1031 Exchange Services, Inc. is a qualified agent for IRC 1031 tax deferral exchanges and is not required to provide tax or legal advice. Interchanges should verify their transaction with a tax and/or legal advisor. Once the exchange documents have been drawn up through qualified intermediaries, a conclusion may be provided to sell the property like any other closure. It is important to remember that after debt relief and debt repayment, the net proceeds of the sale must go directly to the qualified intermediary, unless you structure your transaction as a partially deferred exchange. Your lawyer or any other disqualified party cannot take control of the product of the closure before sending it to the qualified intermediary. With a very limited exception, the tax identification number or social security number of the person or unit selling must be the same number when that person or unit buys the replacement property. An exchanger cannot sell as an individual and buy as capital, even if it owns 100% of the new business. Interchanges may, as tenants, sell and buy together or in certain circumstances in new businesses such as limited liability companies or a Delaware Statutory Trust (DST). If the person or entity trading is not the same on either side of the transaction, please contact your tax or legal advisor before continuing the exchange.

In addition to the documents to be prepared for the conclusion, the qualified intermediary must send the means of exchange he holds of the sale property to make the purchase of the replacement property. Don`t forget to notify Legal 1031 at least one day before graduation to request the exchange credits to make your purchase. Legal 1031 can arrange a money transfer or bank cheque for purchase.

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