1031 Exchange Suggested Language

1031 EXCHANGE -
SUGGESTED LANGUAGE

PURCHASE / SALE AGREEMENT LANGUAGE FOR THE SALE OF RELINQUISHED PROPERTY

Buyer acknowledges it is the Seller’s intent to effect an IRC Section 1031 tax-deferred exchange which will not delay the closing or cause additional expense to Buyer. The Seller’s rights and obligations under this agreement will be assigned to a Qualified Intermediary, for the purpose of completing the exchange. Buyer agrees to cooperate with the Seller and in a manner necessary to complete the exchange.

PURCHASE / SALE AGREEMENT LANGUAGE FOR THE ACQUISITION OF REPLACEMENT PROPERTY

Seller acknowledges it is the Buyer’s intent to effect an IRC Section 1031 tax-deferred exchange which will not delay the closing or cause additional expense to Seller. The Buyer’s rights and obligations under this agreement will be assigned to a Qualified Intermediary, for the purpose of completing the exchange. Seller agrees to cooperate with the Buyer and in a manner necessary to complete the exchange.