1031 Exchange Topics

Exchange Cooperation Clauses

Relinquished Property Sale Contract
“Notwithstanding anything to the contrary, Buyer hereby acknowledges that it is the intent of Seller to effect an IRC §1031 Tax Deferred Exchange, which will not delay the closing or cause additional expense to Buyer. Seller’s rights under this agreement may be assigned to Investment Property Exchange Services, Inc.(IPX1031), as Qualified Intermediary, for the purpose of completing such an exchange. Buyer agrees to cooperate with Seller and IPX1031 in a manner necessary to complete the exchange.”

Replacement Property Purchase Contract
“Notwithstanding anything to the contrary, Seller hereby acknowledges that it is the intent of Buyer to effect an IRC §1031 Tax Deferred Exchange, which will not delay the closing or cause additional expense to Seller. Buyer’s rights under this agreement may be assigned to Investment Property Exchange Services, Inc.(IPX1031), as Qualified Intermediary, for the purpose of completing such an exchange. Seller agrees to cooperate with Buyer and IPX1031in a manner necessary to complete the exchange.”

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