Money Safety

Your Exchanger will have a separate, sub-account within the Attorney 1031 Master Exchange account at the Trustee Bank. Individual Exchanger Funds are never co-mingled with any others.

To maximize Money Safety, we use a “dual signature” procedure for the transfer of any monies out of the Exchanger’s sub-account. One signature is on behalf of Attorney 1031 (thus eliminating any issue of “constructive receipt” for your Client). And the other signature is someone designated to sign on behalf of the Client. The identity and confirmed signature of this person is provided to the Trustee Bank and is unknown to Attorney 1031. We will provide you with the form and instructions on how to do this. No monies can be transferred anywhere without this procedure having been initiated and completed. So bottom-line; you and your Client must know and approve of ANY transfers of money.

We pioneered this Dual Signature approach decades ago – and now it is required by most states who license Qualified Intermediaries