Good morning

 

We’ve been approached about offering a product for 1031 Exchange accounts.  This is when a real estate broker manages funds for home sales while the owner finds ways to reinvest the funds.  The broker wants to have 'sub accounts' where he can keep separated for tax purposes.  Initially, the thought was to look at the Lease Security solution from JH.  However, the 1031 Exchange is not as involved as the landlord/tenant relationship.  These would be more like having sub accounts under the broker and the interest reporting would be on the seller of the real estate.  The broker has the ability to access the funds and the seller does not. 

 

If anyone else is offering these, can you please reach out to me directly.  I’m interested in how you set up and managed this relationship.  Thanks in advance and Happy Holidays to all!

 

 

Thanks

Upcoming OOO/PTO December 22 - 29

 

Renée P Davis

VP Deposit Operations Manager

 

 

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