Under what circumstances or conditions may the Investor request and receive the balance of his relinquished property net proceeds from Safe Harbor Escrow?
• The Property Exchange Agreement stipulates no refund may be made until after the 45-day identification period has passed. If no identification of replacement property is made, the net equity funds may be refunded, and the exchange is void. • After the 45th day, the net equity funds should remain in Safe Harbor Escrow until closing of all identified properties, or until the full 180-day deadline. Hardship exceptions are allowed, as an identified property’s inability to close. • Upon the last replacement property closing, any net equity proceeds balance in Safe Harbor Escrow may be refunded.
Related Questions
- Under what circumstances or conditions may the Investor request and receive the balance of his relinquished property net proceeds from Safe Harbor Escrow?
- Can the net equity proceeds from the relinquished property closing be held in an escrow account other than with the Qualified Intermediary?
- May The Taxpayer/Exchanger Receive "Growth Factor"/Interest On The Net Proceeds (From The Relinquished Property)?
