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QUALIFIED INTERMEDIARY  

Qualified Intermediary

A Qualified Intermediary, for the purposes of 1031 property exchanges, is usually a corporation (or sometimes an individual) that specializes in facilitating these types of transactions. It is generally desirable to choose a Qualified Intermediary that is both bonded and insured. Some Qualified Intermediaries also earn certification in the field by passing an exam.

Qualified Intermediaries are sometimes called Accommodators, Exchange Accommodators, or simply QIs. One of the primary functions of the QI is to hold the funds involved in the exchange of one property for another. The IRS has set up "safe harbor" guidelines that mandate the use of a QI, but taxpayers should be aware that related parties may not function as QIs for 1031 purposes.

In other words, the investor may not use his or her own attorneys, advisors, or agents to perform qualified intermediary services. Another important role of a QI is the handling of various agreements related to the 1031 exchange. Most professional QIs have standard "boilerplate" agreements that are used to govern the relationship between the QI and the exchanger.

QI agreements generally have special language designed to meet IRS guidelines. Nevertheless, investors should have their own advisors review all 1031 contracts and should make sure they understand what they are signing. TM 1031 Exchange does not perform qualified intermediary services. We do provide a link in our free 1031 Tool Kit to help you find a professional in your area. For more information on the role of a Qualified Intermediary in a 1031 transaction, you may also call us at 1-877-4TM-1031 or send an email here info@tm1031exchange.com.

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