Like-Kind Exchanges and Qualified Intermediaries
Abstract
The economic downturn has depressed the real estate market, a significant component of the section 1031 industry. In its wake, the industry witnessed three major qualified intermediary failures. QI failures deprive exchangers of exchange proceeds and also create potential tax and legal liabilities for exchangers. This article analyzes those potential liablities and also discusses the cause of QI failures and actions that exchangers and QIs may consider to help safeguard exchange proceeds.Suggested Citation
Brad Borden, Paul L.B. McKenney, and David Shechtman. "Like-Kind Exchanges and Qualified Intermediaries" Tax Notes Jul. 2009: 55.
Available at: http://works.bepress.com/brad_borden/25