Use of this Addendum makes contract accommodation language unnecessary and automatically provides for assignability of a contract by the buyer in an exchange transaction. Settlement Statements . Section 1031 of the Internal Revenue Code imposes no requirements and provide no guidance with respect to preparation of Settlement Statements for an exchange of property. Our recommendation is to prepare one set of settlement statements in the normal manner which total to zero proceeds due to or from the Exchanger. 1031 Corporation was organized in 1990 to serve as a Qualified Intermediary in tax-deferred exchanges and has been a leader in development of exchange technology, approaches and solutions under the 1991 Regulations.
Services can range from simple intermediary services to assistance with structuring the exchange.
We can work with and assist a taxpayer's CPA, attorney, tax advisor or Realtor. Call on us when you or a client are in need of assistance or even if you just have a few questions.