The main focus at Legal 1031 Exchange Services, Inc. is customer service. IRC §1031 exchanges can sometimes be complicated but more so when clients are working on their first §1031 transaction. Our goal at Legal 1031 is to take the uncertainty out of the transaction and make our clients feel comfortable. Many qualified intermediaries try to have you fill out forms over the internet and limit your conversations. Legal 1031 takes the opposite approach – we encourage our clients to contact us so that they feel confident and comfortable as they work through their transaction.
Legal 1031 also places a great deal of importance on knowledge. The principals of Legal 1031 are two of the top Attorneys and CPA’s in the 1031 community. Both have written countless articles on 1031 exchanges, appeared on various radio programs and have been quoted in newspapers such as the New York Times. The president is also an adjunct Professor at New York University where he teaches a class on 1031 exchanges. The experience of our Principals and our team at Legal 1031 are here for you.
Last, but certainly not least, Legal 1031 is concerned with the security of its clients’ funds. One of the main tasks of a qualified intermediary is to hold in escrow the net proceeds from the sale of the §1031 property. Unlike many qualified intermediaries Legal 1031 opens up a separate segregated escrow account for each client. Clients are always able to get a letter verifying account balances directly from the bank upon request and receive a copy of Legal 1031’s fidelity bond which covers up to $5 million. Clients are encouraged to read the article titled “Qualified Intermediary Due Diligence” under the articles section of this website.