1031 Cooperation Clauses
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✴1031 Cooperation Clauses
When signing your Agreement of Sale, insert the appropriate 1031 exchange cooperation clause. This clause will document your intent to complete an exchange and ensure the cooperation of your buyer or seller.
Relinquished Property - Click to Download Form
(This is the property you are selling.)
Buyer acknowledges that it is the intention of the Seller to complete a tax-deferred exchange under Internal Revenue Code Section 1031. Buyer agrees to cooperate as long as it does not delay the closing or cause additional expense to the Buyer. Buyer agrees that Seller will assign the rights (but not obligations) of this agreement to 1031 CORP., as Qualified Intermediary. Cooperation means that Buyer will approve an assignment, agree to release the Intermediary from any claim made by Buyer, and agree to all other appropriate action or sign any other document which does not create additional liability or expense.
Replacement Property - Click to Download Form
(This is the property you are buying.)
Seller acknowledges that it is the intention of the Buyer to acquire property as part of a tax-deferred exchange under Internal Revenue Code Section 1031. Seller agrees to cooperate as long as it does not delay the closing or cause additional expense to the Seller. Seller agrees that Buyer will assign the rights (but not obligations) of this agreement to 1031 CORP., as Qualified Intermediary. Cooperation means that Seller will approve an assignment, agree to release the Intermediary from any claim made by Seller, and agree to all other appropriate action or sign any other document which does not create additional liability or expense.
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