LINK Meeting | Snohomish County

Section 1031 of the Tax Code requires that a 1031 Exchange intermediary hold the net sale proceeds from your sale until you purchase your new property. 1031 Qualified Intermediaries remain unregulated by the federal government and by most states, and there have been cases where sale proceeds have been misappropriated. It is critical that investors do their own due diligence when choosing which 1031 company to hire and verify the safety of sale proceeds monies.