„The buyer is aware of this and recognizes that the seller intends to make a deferred exchange in accordance with Section 1031 of the IRC. The seller asks the buyer to participate and agrees to compensate the buyer for any claims, expenses, debts or delays resulting from such an exchange. The buyer accepts the assignment of this contract by the seller. 4. Legal 1031 Exchange Services, Inc. is a qualified agent for IRC 1031 tax deferral exchanges and is not required to provide tax or legal advice. Interchanges should verify their transaction with a tax and/or legal advisor. Abandoned property sale: „The buyer is aware that the seller has the option to characterize this transaction as a deferred exchange according to the internal code of the turnover section 1031. The seller asks for the buyer`s cooperation in the event of an exchange and accepts the transfer of this contract to Atlas 1031 Exchange, LLC by the Seller. The seller undertakes to keep the buyer free of any rights, liabilities and costs of such an exchange. 1. By executing this addendum Exchange, buyers and sellers intend to incorporate this addendum into their existing agreement in order to __________________________________________________________________________________________________________________________________________Verkäufer Other___________ structure its share of the above transaction as an IRC tax exchange as amended. Although many exchangers generally incorporate language into their purchase and sale contract in order to establish their intention to trade, this is not required by the internal income code. Many exchangers and real estate agents add a language of exchange to the contract for several reasons: purchase of alternative property: „The seller recognizes and accepts that the purchaser may make a deferred or reverse exchange of similar assets (an „exchange“) using a qualified intermediary („IQ“) or an exchange intermediary title holder („EAT“) pursuant to Section 1031 of the 1986 Internal Income Code.
the provisions that are amended and the treasury bills, revenue procedures and other guidelines adopted there. Notwithstanding the provision, the seller agrees to accept the transfer of the buyer`s rights to an IQ or EAT in the event of a deferred or inverted exchange of a similar nature, in order to facilitate such a deferred or inverted exchange of a similar nature. The seller also agrees to execute all documents reasonably necessary to fulfill the objectives of this section. In the event that the buyer uses an EAT for his purse, the seller agrees to transfer the right to the property in accordance with the transmission instruments which are otherwise in accordance with the terms of this agreement. Any assignment by the Buyer, in accordance with this section, is made at the buyer`s expense and this assignment does not relieve the Buyer of its obligations (including any obligations after the conclusion) or of the commitments arising from this contract or delays the conclusion of that agreement.