|
1031 SERVICES, INC.,
is a full service 1031 exchange company. We act both as qualified intermediary in deferred exchanges
as well as exchange accommodation titleholder in reverse or improvement exchanges
throughout the US.
>
More information on our services
OUR EXPERTISE...
Mary B. Foster,
President, has extensive
knowledge of the cases and
rulings governing exchanges and
of the industry as a whole.
As co-author of the leading
treatise Tax Free Exchanges
Under §1031, Mary is at the
forefront of the industry and
continually keeps up-to-date
with new or changing issues
within the IRC §1031. Mary
is frequently called upon for
her expertise by other qualified
intermediaries and attorneys
alike as well as called upon by
the IRS to travel to Washington
D.C. to meet and discuss
pressing issues regarding the
1031 industry.
SECURITY OF EXCHANGE FUNDS...
The safety and
security of your exchange funds
has always been our main
priority. Our company has always
maintained segregated,
interest-bearing bank accounts for
each client. To learn more
about our exchange account
policy, please refer to
"Why
are Your Exchange Funds Secure
with Us?".
OUR CLIENTS...
Our clients range
from large national corporations
doing multiple complex exchanges
to individuals exchanging their
single family rental house.
We have participated in
exchanges of all types of
properties including real
estate, equipment, aircraft,
shipping vessels, artwork and
other collectibles, businesses,
licenses, and radio and
television stations. We
have also worked on exchanges in
foreign countries.
OUR
APPROACH...
We have always
approached our work as a
personal service rather than a
commodity or volume business.
Our staff has extensive escrow
industry experience and
knowledge. High quality
customer service and expertise
in the industry gives us the
edge when working on your
exchange.
|
WHY ARE YOUR
EXCHANGE FUNDS
SECURE WITH US?
|
We believe
that you should know exactly
how and where your
exchange funds are deposited.
Furthermore, you should receive
independent verification of this
critical information directly
from the bank. Accordingly, we provide the
following for all our exchange
clients:
(1) Qualified
Escrow Account. Your
exchange funds are deposited in
a segregated qualified escrow
account (the “Escrow Account”)
with an independent bank as the
escrow holder (the “Bank”).*
We have never commingled
or pooled a client's exchange
funds with any other client's
exchange funds for investment
purposes. Any
disbursement from the Escrow
Account requires your written
authorization, the authorization
by a Bank officer, and the
authorization of an officer of
1031 Services, Inc.
(2)
Independent Verification from
the Bank. We appreciate
your trust in us, but we believe
that you should receive
independent verification
directly from the Bank about how
and where your funds are
invested. Thus, the Bank will
send you a monthly account
activity statement, and you may
also request on-line viewing of
your account directly with the
Bank.
(3) FDIC
Insured Money Market Account.
The funds in the Escrow
Account are invested in a money
market account that is insured
by the FDIC for up to $250,000.
Through December, 2012, you also
have the option of investing the
funds in a non-interest
bearing account that is fully
issued by the FDIC. Your tax identification number
is used for the Escrow Account.
*We currently
work with several independent
banks that provide Qualified
Escrow Account services.
Please call for more information
on the choice of banks. We
can set up a Qualified Escrow
Account with a bank of
your choice for an additional
fee.
WASHINGTON STATE LAW, RCW
19.310.040, REQUIRES AN EXCHANGE
FACILITATOR TO EITHER MAINTAIN A
FIDELITY BOND IN AN AMOUNT OF
NOT LESS THAN ONE MILLION
DOLLARS THAT PROTECTS CLIENTS
AGAINST LOSSES CAUSED BY
CRIMINAL ACTS OF THE EXCHANGE
FACILITATOR, OR HOLD ALL CLIENT
FUNDS IN A QUALIFIED ESCROW
ACCOUNT OR QUALIFIED TRUST.
Client and bank references can
be provided upon request.
For more information or to speak with someone
at our office,
please call us at:
(425) 646-4020
|
