Video Transcript
Today, I wanted to talk to you about some of the rules and regulations that IPX1031 and other 1031 facilitators must follow in the state of Washington.
So, the first rule that they must follow is how funds are held. And funds must be held in a prudent manner, which means that they must be liquid and the funds that come to us must be preserved, both the principal and the interest that it earns while we’re holding the funds.
Second, all facilitators must maintain an E&O policy for no less than $250,000.
And lastly, they also must maintain a Fidelity Bond for no less than a million dollars. IPX1031 proudly follows all these Washington state rules and regulations and I’d be happy to help you with any of your 1031 needs or questions. I look forward to working with you in the future.
Understanding the Washington 1031 Exchange Process
If you have any questions about the Washington exchange process or any other 1031 Exchange topics, please visit our Washington IPX1031 web page at www.ipx1031.com/washington. We’re happy to help.
Click to visit Washington 1031 Exchange page