When writing an offer or selling a property to be used in a 1031 exchange, it is necessary to put specific clauses in the offer to protect the exchanger. The California Association of Realtors has created a form specific for that purpose.
In addition, William exeter of Exeter 1031 exchange has contributed the following for use in the specified transactions
Relinquished Property (Sale Property)
Buyer acknowledges that Seller intends to perform a 1031 exchange transaction pursuant to Section 1031 of the Internal Revenue Code and that Seller’s rights, title and interest (but not obligations) pursuant to this Purchase and Sale Agreement will be assigned to Seller’s Qualified Intermediary for the purpose of completing Seller’s 1031 exchange transaction.
Buyer agrees to cooperate with Seller and Qualified Intermediary at no additional cost or liability to Buyer, by executing the documents necessary to complete Seller’s 1031 exchange transaction.
Replacement Property (Purchase Property)
Seller acknowledges that Buyer is completing a 1031 exchange transaction pursuant to Section 1031 of the Internal Revenue Code and that Buyer’s rights, title and interest (but not obligations) pursuant to this Purchase and Sale Agreement will be assigned to Seller’s Qualified Intermediary for the purpose of completing Buyer’s 1031 exchange transaction.
Seller agrees to cooperate with Buyer and Qualified Intermediary at no additional cost or liability to Seller, by executing the documents necessary to complete Buyer’s 1031 exchange transaction.
For more information call John Daniel at (949)481-7358
Exeter 1031 exchange services, Inc. is a preffered accomidator for Daniel Realty & Investments
