In order to participate in a 1031 Exchange, a Seller must make certain elections in a specified amount of time as outlined in the tax code. A Seller or their close representatives are not allowed to take constructive receipt of the proceeds from the sale of the relinquished properties, so a Seller needs to select individuals or companies to handle the 1031 Exchanges on their behalf, known as Qualified Intermediaries.
MID SOUTH TITLE is experienced in acting as a Qualified Intermediary for 1031 Exchange purposes. MID SOUTH TITLE can provide 1031 Exchange Services for the sale and purchase of properties anywhere in the United States.
MID SOUTH TITLE’S 1031 Exchange Team can prepare documents and escrow prior to a Seller’s sale of property. While the Seller does not yet need to know or identify their replacement property, MID SOUTH TITLE should be engaged at least two weeks prior to the relinquished property sale so that documents and escrow can be prepared for the closing.
Learn how MID SOUTH TITLE can help by calling Mike Hewgley at 901-244-2045, or emailing Mike Hewgley.