1031 Exchange Support
A 1031 exchange lets an investor sell investment property and buy replacement property while deferring the capital gains tax on the sale. The sale money has to go through a qualified intermediary, a separate company that holds it, instead of passing through the investor.
An investment property exterior, such as a small apartment or retail building, in good light.
Cornerstone is not a qualified intermediary.
We handle the title and closing side of your sale and your purchase. A separate qualified intermediary, often called a QI, has to hold the sale proceeds and run the exchange. We do not act as a QI, we do not hold exchange funds as a QI, and we do not give tax advice.
Who it is for
Investors selling investment or business property, and the advisors who work with them.
What Cornerstone does
- Handle title and closing for the property you are selling.
- Handle title and closing for the property you are buying.
- Work with your qualified intermediary and your tax advisor on the documents we need to close.
- Keep both closings moving, because exchanges run on fixed deadlines set by tax rules.
What you need to bring or do
- Choose a qualified intermediary before the sale closes. We can work with the one you pick.
- Tell us early that the sale is part of an exchange.
- Send us your intermediary's contact details and the exchange documents they prepare.
- Check deadlines and tax questions with your tax advisor. We cannot advise on taxes.
Closing on one side of an exchange?
Tell us the dates and who your intermediary is, and we will plan the closings around them.