Call us at 303.986.4848 or
1.800.571.6595 for any 1031 exchange question.
All consultations
are free!
STEP
1
Always
discuss your exchange with your tax advisor.
STEP
2
Contact
BANKERS Escrow Corporationat 800-571-6595 immediately
upon deciding to do a 1031 exchange to insure proper
document preparation and coordination of all parties,
including real estate agent, tax advisor & title
company.
STEP
3
Make
sure that the real estate contracts have the 1031
terminology in the contract that allows for the
assignment & indicates your intent to do an exchange.
STEP
4
Sample
Terminology for Real Estate Contracts [Taxpayer
should consult their tax advisor or real estate
professional as this is suggested language only]
"Both the Seller and the Buyer hereto agree
to cooperate with each other in a manner necessary
to enable either party to qualify for a IRC Section
tax deferred exchange
at no additional cost
or liability to either party. Either party’s rights
and obligations will be assigned to BANKERS
Escrow Corporation to facilitate such exchange."
STEP
5
Replacement
property must be identified within 45 days of the
closing of the relinquished property.
STEP
6
Acquisition
of the replacement property must be completed within
180 days of the closing of the relinquished property.
Bankers Escrow Corporation
Corporate Headquarters 44 Union Blvd. Suite 103
Lakewood, CO 80228
All
transactions are easy & convenient with very reasonable
fees. Professional same day service by experts including
CPA, attorney, lender, realtor, & escrow officers.
Bonded &
Insured for your protection.