Choosing a Qualified Intermediary
Because of the large potential capital gain and depreciation tax sanctions should your exchange not be accommodated correctly, selecting the right Qualified Intermediary to facilitate your exchange can be pretty important. We were recently reminded of how important it is to choose the right facilitator, when a few months ago, the captive exchange companies belonging to the two largest title insurance companies were shut down briefly because of ransomware attack. All their Exchanger data was compropmised, and many Exchangers had to worry if they could successfully close on the replacement property before the expiration of their 180 day exchange period. Make sure you pick a facilitator who takes the security of your personal and transactional data and the safety of your exchange proceeds as seriously as you do. If they'd rather not talk about data and funds security when you inquire, there may be a reason?
