Advocus facilitates 1031 exchanges through Exchange Manager ProSM, patented 1031 exchange workflow technology supported by one of the nation’s leading Qualified Intermediaries, Accruit. You and your clients can now take advantage of a highly competent and qualified 1031 exchange intermediary without the hassle of searching for one in the marketplace. Work with the knowledgeable and friendly people you already know at Advocus!
1. Advocus National 031 Exchange, LLC, is an entity owned and operated by Accruit and is the Qualified Intermediary. Advocus National Title Insurance Company is the Managed Service Facilitator. Accruit, an Inspira Financial Solution, offers national 1031 Exchange Qualified Intermediary services and technology solutions.
Section 1031 of the tax code allows owners of qualified real estate to sell the property without paying taxes on the gain from the sale, as long as the sale proceeds or exchange value is used to acquire like-kind replacement property for investment or business use.
To realize the benefits of a 1031 Exchange, a property owner employs the service of a Qualified Intermediary (QI). Through Accruit, we are proud to offer you Qualified Intermediary services to help you navigate this complex process.
As the Exchange Facilitator, Advocus works with you and your clients to gather information and documents to start the exchange transaction. From there, the team at Accruit fulfills all the duties of the QI .
Your clients may be able to use a 1031 Exchange on the sale of their investment property and defer not only capital gains tax, but depreciation recapture tax, and in some case Net Investment Income Tax.
A 1031 Exchange helps American farmers, ranchers, and other landowners save taxes on real estate transactions and maximize the value of farm or ranch operations.
Using a Qualified Intermediary (QI) to facilitate an exchange transaction helps ensure compliance with the requirements for a valid 1031 Exchange. The QI’s role includes the following:
Nearly all real property held for business or investment purposes is considered to be “like-kind” to all other real property. The following types of real property are often exchanged with taxes deferred:
We check all the right boxes.
We help coordinate te 1031 exchange, reducing friction and increasing efficiencies.
Patented 1031 software, Exchange Manager ProSM, keeps all parties informed of transaction timelines, funds available, and other pertinent information throughout the 1031 exchange.
Access to attorneys and seasoned Certified Exchange Specialists® (CES®) with subject matter expertise.
Have confidence in the security of your exchange funds with insurance coverage amounts found only among the largest exchange facilitators in the industry: $50 million Fidelity Bond, $25 million Errors & Omissions, and $20 million Cyber Liability.
Use these forms to start your client’s Exchange with Advocus as the Managed Service Facilitator. Click image to enlarge and download forms, send completed forms to [email protected] .
NOTE: Before the taxpayer completes these forms, make sure the transaction qualifies for 1031 exchange treatment by reviewing the 1031 Exchange Qualifying Questions . Advocus staff will also conduct an inquiry to verify that the transaction meets basic qualifications before moving forward with the 1031 exchange.
*Karen is the Construction Escrow Administrator for ATG. She has many years of experience in the title industry and has worked closely with builders, lenders, and attorneys in construction disbursement. Sheila has handled projects ranging from small single-family homes and rehabs to large-scale commercial projects.
Questions?
Contact Sheila Buckley directly, or contact the department:
[email protected]
Phone: 800.252.0402
Fax: 312.372.0464.
