Not exact matches
Chinese medicine is based on the concept that symptoms are expressions of the imbalance of
qi, and in order to address those imbalances, the underlying cause
needs to be resolved.
You
need to use a special «middleman» called a Qualified Intermediary («
QI») or Accommodator who is required to hold the sale proceeds for you and who then uses those proceeds to buy any replacement property that you want.
If that can not be accomplished, then the
QI may
need to step in to execute the contract and acquire title to the replacement property.
The
need for the
QI to step into title as part of the sequential deeding process was cumbersome insofar as the
QI's transitory ownership complicated the issuance of title insurance, involved duplication of transfer taxes and introduced transactional risks for the
QI associated with its ownership of both the relinquished property and the replacement property.
This way there is no assignment
needed since the
QI is the original party to the PSA.
QIs and the like - kind exchange industry will
need considerable time to understand the impact of the law.
According to 1031 Exchange guidelines, you will likely
need a Qualified Intermediary (
QI) to serve as a third - party to accommodate the sale, and hold subsequent payout from your currently held property.