Equity Exchange LLC will serve as a Qualified Intermediary. The Qualified Intermediary, also known as a Facilitator, Accommodator, or Strawman, is the term used to describe a third party principal to a transaction whose purpose is to transfer property and money thereby insulating the Exchanger both from agency issues and from actual or constructive receipt of funds issues. The Qualified Intermediary acts as a middleman by interfacing with all of the parties in a transaction and, in a delayed exchange, holds the proceeds from the sale in a Qualified Escrow Account and maintains an arms-length relationship with the Exchanger, thus providing a Safe Harbor. The Qualified Intermediary substitutes for the Exchanger as the Seller of the Relinquished Property and Buyer of the Replacement Property. The Intermediary provides the documentation to establish an exchange and to provide the best paper trail if there should ever be an audit.
The Intermediary instructs the title company or attorney’s office in completing the paperwork to achieve an exchange rather than a sale. The Intermediary is available to answer questions from all interested parties throughout the entire exchange process.