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1031 Exchange Qualified Intermediary – What does “Qualified” Mean?

1031 Exchange Qualified Intermediary – What does “Qualified” Mean?

When a group was asked “According to the IRS, what does ‘Qualified’ mean?” in regard to a Qualified Intermediary in a 1031 Exchange, answers included, knowledgeable, honest, educated, and meet certain security requirement per the IRS. Logical responses and assumptions, but they are not accurate. “Qualified”, according to the IRS, simply means that they are not disqualified.

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