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941-366-1300 Contact Us

As Your Qualified 1031 Exchange Intermediary We lead you through the following steps to successfully complete your exchange:

1. Agreements

Preparing the required exchange agreement between intermediary and exchanger.

2. Assignments

We will provide notifications of the assignments to all parties and furnish instructions to settlement agents.

3. Escrow

Establish qualified escrow account to hold proceeds from relinquished property

4. Identification Notice

Management of 45-day identification notice for replacement property and delivering escrow funds for replacement property settlement.

5. Properties Deeding

Arrangements for the direct deeding of the 1031 exchange properties are made and reviewed.

6. Final Accounting

We provide a final accounting and remit to you any unused portion of the proceeds.

About Us

U.S. 1031 Exchange Services, Inc. is a corporation founded by Florida Bar Board Certified Real Estate Attorney, Jefferson F. Riddell, who has been assisting people with 1031 Exchanges for more than 35 years.

Also, because of this separate corporation arrangement, Mr. Riddell’s law firm is able to close the sale of relinquished properties and purchase of replacement properties in the Florida west coast area, and this is especially efficient and convenient since U.S. 1031 Exchange Services, Inc. operates out of the same office location as the law firm. The offices are located in the SunTrust Bank Building, 3400 S. Tamiami Trail, Sarasota, FL 34239.

Mr. Riddell will personally be available to answer all your questions before and throughout the exchange, and U.S. 1031 Exchange Services, Inc.’s fees are very competitive. In fact, we challenge you to find another full service Qualified 1031 Exchange Intermediary company whose fees are lower.

Any appreciated property or property which has a low basis because of depreciation write-offs which is held for investment or which is used in a trade or business is a candidate for 1031 Exchange treatment by reinvestment in “like kind” property (which means real estate for real estate).

Keeping all of your profits invested and working for you normally builds wealth faster than paying tax each time you change investments. Deferring taxes maximizes the leverage of your investments.

Get Started On Your 1031 As Your Qualified 1031 Exchange Intermediary, we lead you through every step to successful exchange:

Frequently Asked 1031 Exchange Questions If you would like to discuss your 1031 Exchange questions with us directly, give us a call at 941-366-1300

Why should I consider a 1031 Exchange?

Individuals and companies who sell appreciated property (real estate) are subject to capital gains tax under the Internal Revenue Code. Under IRS’s 1031 Exchange rules, however, an exchange is not considered to be a sale and no capital gain is recognized or subject to tax.

The basis of the relinquished property becomes the basis of the replacement property and tax is deferred until such time as the replacement property is sold. If the replacement property is later exchanged for another replacement property (not sold), tax is also deferred. So, as long as your business, rental or investment properties (including vacant land) are disposed of in 1031 Exchanges, the capital gains tax will continue to be deferred.

What Is 1031 Exchange Intermediary?

A Qualified 1031 Exchange Intermediary prepares necessary documents including the Exchange Agreement, and enters into the Exchange Agreement with the exchanger. Then, as required by the Exchange Agreement, the Exchange Intermediary acquires the relinquished property from the exchanger, transfers the relinquished property to the buyer, acquires the replacement property from the seller and transfers the replacement property to the exchanger to complete the exchange.

As Your Qualified 1031 Exchange Intermediary, we lead you through the following steps to successfully complete your exchange:

• Prepare the required exchange agreement between intermediary and exchanger
• Provide notification of the assignments to all parties
• Furnish instructions to settlement agents
• Establish qualified escrow account to hold proceeds from relinquished property
• Receive the 45-day identification notice for replacement property
• Deliver escrow funds for replacement property settlement
• Arrange for direct deeding of the properties
• Provide final accounting

What properties are qualified for 1031 exchange?

The property you plan to dispose of in your 1031 Exchange is referred to as the relinquished property. The property you wish to acquire to complete your 1031 Exchange is called the replacement property. In a single exchange, you may have more than one relinquished property and/or more than one replacement property. Both the relinquished property and the replacement property, according to IRS, must be properties held for investment or productive use in a trade or business. A trade or business includes rental property, but also could include the location of your business such as a store or manufacturing plant, and vacant land.

Personal residence property (property you live in) is not qualified 1031 Exchange property. Learn more about qualified properties.

What is your fee schedule and cost?

We offer highly competitive 1031 exchange fees based on the sale price of the property. This basic fee starts as low as $700 for properties under $300,000.

Our basic fee covers obtaining necessary information, preparing the Exchange Agreement, assignment forms, replacement property identification form and other paperwork, dealing with the closing agent who is handling the closing of the sale of your relinquished property, obtaining the funds to be escrowed, dealing with the closing agent who is handling the closing of the purchase of your replacement property including delivering funds to the closing agent, etc.

We collect our fee by deducting it from the sale proceeds of the relinquished property when we receive the funds to be placed in escrow from the closing agent. If we will not actually be receiving the funds because, for example, the exchange will be simultaneous, we will request that this fee be placed on the closing statement for the replacement property so the closing agent can send us a check for the fee. Learn more about schedule cost and fees here.

ABOUT

U.S. 1031 Exchange Services, Inc. is a corporation founded by Florida Bar Board Certified Real Estate Attorney, Jefferson F. Riddell, who has been assisting people with 1031 Exchanges for more than 35 years.

Ficpa Affliate RASM Business Partner

CONTACT INFO

U.S. 1031 Exchange Services

3400 S. Tamiami Trail,
Sarasota, FL 34239

Phone: 941-366-1300

Tollfree: 877-455-2628

FAX: 941-366-6973

Email: rstulman@us1031.com

As a Qualified Intermediary, U.S. 1031 Exchange Services, Inc, its officers and employees do not provide, and this communication is not intended to be, tax or legal advice. U.S. 1031 Exchange Services, Inc. makes no representations or warranties regarding the tax consequences of your transaction. You should consult a tax or legal professional of your choosing to advise you of the benefits and risks of your specific transaction.

Copyright © 2021 U.S. 1031 Exchange Services Inc.