1031 MN
Who Can Act As The Qualified Intermediary For Your 1031 Exchange?
September 22, 2009 by Financemyhome · 1 Comment
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John,
You hit the nail on the head! Your Qualified Intermediary should handle your exchange funds with a sense of care and trust, offering financial strength, experience, and nationwide service,
along with solid credentials in facilitating tax-deferred exchanges. Our exchange funds are strictly deposited with FDIC insured institutions with investment grade ratings (or which are subsidiaries of investment grade institutions). First American’s Treasury team closely monitors the financial stability of these institutions. We do not invest any exchange funds in any securities. In addition, we maintain a multimillion-dollar fidelity bond and a professional liability insurance policy from a leading independent insurance underwriter. Our exchange company’s financial statements are reviewed as part of The First American Corporation’s consolidated financial statements, which are audited annually by PricewaterhouseCoopers, a leading global accounting firm. We have attorneys and Certified Exchange Specialists® on staff throughout our offices nationwide.