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Is a Qualified Intermediary needed if all properties are closing concurrently?

April 26, 2017closing concurrently intermediary needed properties qualified

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Is a Qualified Intermediary needed if all properties are closing concurrently?

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Yes, if there are more than two properties involved. If two exchangers want each others’ properties, a Qualified Intermediary is not required. If three or more properties are involved, someone has to either go through the chain of title to make the exchange work or utilize a Qualified Intermediary to prepare the documents required by the IRS to show the trade.