In a Reverse Exchange, Replacement property is acquired before the Relinquished property is sold. Guardian Exchange Services serves as a Qualified Intermediary and creates an Exchange Accommodation Title Holder (EAT) to take title to the Replacement property before the sale of the Relinquished Property. The Reverse Exchanger then has 45 days to identify Relinquished Property to be sold to effectuate the 1031 Exchange. The Replacement Property is transferred to Exchanger upon sale of the Relinquished Property, which must be completed within 180 days of purchase of the Replacement Property.
Guardian Exchange Services’ retains experienced Outside Counsel specializing in Reverse Exchanges to draft all necessary paperwork for a Reverse Exchange. We work with your attorney and/or tax advisor to ensure a smooth Reverse Exchange process.
*It is imperative to always consult with your Attorney or Tax Advisor to determine if a 1031 Exchange is right for you.
