Like-Kind Exchanges and Qualified Intermediaries

10 Pages Posted: 2 Jul 2009 Last revised: 6 Jul 2009

See all articles by Bradley T. Borden

Bradley T. Borden

Brooklyn Law School

Paul L.B. McKenney

affiliation not provided to SSRN

David Shechtman

affiliation not provided to SSRN

Date Written: June 25, 2009

Abstract

The economic downturn has depressed the real estate market, a significant component of the section 1031 industry. In its wake, the industry witnessed three major qualified intermediary failures. QI failures deprive exchangers of exchange proceeds and also create potential tax and legal liablities for the exchangers. This article analyzes those potential liabilities and also discusses the cause of QI failures and actions that exchangers and QIs may consider to help safeguard exchange proceeds.

Keywords: section 1031, like-kind exchange, qualified intermediary, qualified trust, qualified escrow account, bankruptcy, QI failure

Suggested Citation

Borden, Bradley T. and McKenney, Paul L.B. and Shechtman, David, Like-Kind Exchanges and Qualified Intermediaries (June 25, 2009). Tax Notes, Vol. 124, p. 55, July 6, 2009, Available at SSRN: https://ssrn.com/abstract=1425807

Bradley T. Borden (Contact Author)

Brooklyn Law School ( email )

250 Joralemon Street
Brooklyn, NY 11201
United States

HOME PAGE: http://www.brooklaw.edu

Paul L.B. McKenney

affiliation not provided to SSRN ( email )

David Shechtman

affiliation not provided to SSRN ( email )

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