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We can act as your third-party intermediary for the deposit of funds between the sale of relinquished property and the purchase of replacement property.
If you’re planning on selling an investment[cite::42::cite] property, you may face a capital gain that could be subject to federal and state taxes. A tax-deferred exchange under Section 1031 of the Internal Revenue Code allows you to sell investment properties and acquire “like-kind” properties while deferring federal, and possibly state, capital gains taxes.
In order to complete a tax-deferred exchange, a third-party qualified intermediary must hold funds between the sale of relinquished property and the purchase of replacement property.
With your exchange funds deposited with California Bank & Trust (CB&T), you have the security of a regulated financial institution and the funds are insured up to the current FDIC limit. Funds are held in a Qualified Trust Account[cite::41::cite] for your benefit, where they can only be distributed with your written approval. We know you want your funds to be secure.
Through our affiliate, Exchange Services, LLC, you will have the advantage of:
Find out how Exchange Services, LLC, can help you complete your tax-deferred exchanges. For more information, please contact our 1031 exchange specialist, Kelly A. Pearl, Esq., CES®, at (858) 357-7212.
Exchange Services, LLC, an affiliate of California Bank & Trust, offers 1031 Exchange Services.