How Do You Find A 1031 Like Kind Exchange Intermediary?
The Internal Revenue Code requires a Qualified Intermediary (QI) to exchange the properties in a like-kind exchange. The QI can not be the property owner or a relative. The QI can be an attorney, real estate professional, or work for a title company. The IRS webpage has a link to who a QI is and what you have to do to become a QI. Here are a few ways to find a QI. Ask friends and family if they know of a Qualified Intermediary” (QI). Family and friends are good references. They can share what they liked about a transaction and what they didn’t like. Friends and family are usually more honest and blunt than a business associate. Inquire at a local farm association. The National Family Farm Coalition represents families dealing with the economies relating to the farm. Associations such as these may have some suggestions from dealing with similar concerns of other farm owners wishing to exchange property. Visit the IRS website and look for the description of a QI. Make sure the QI you cho
