Equity 1031 Exchange

Equity 1031 Exchange, LLC, formerly Midland 1031, LLC, is a qualified intermediary for tax-deferred exchanges under Section 1031 of the Internal Revenue Code. It is based in Fort Myers, Florida, operates nationwide, and is part of Equity Trust Company.

As intermediary the firm prepares the exchange documents, coordinates with the closing agents on the sale and the purchase, and escrows the funds. It acts on forward, reverse, and improvement exchanges, and says it has handled transactions ranging from under $100,000 to over $10 million. Each client works with a dedicated member of the exchange team from the start of the transaction to the end.

The firm is a member of the Federation of Exchange Accommodators and has a Certified Exchange Specialist on staff, a designation awarded by the FEA to people who meet work experience criteria and pass an examination on exchange law and procedure. For client protection it maintains a fidelity bond and a professional insurance policy from an independent underwriter. The business started in the autumn of 1997 in a 690-square-foot office on Sanibel Island, Florida.

Fees are not published. The firm asks for three to five business days to set up a standard exchange, says reverse and improvement exchanges need their own timelines, and stresses that the exchange must be set up before the relinquished property closes. Its role is limited to acting as qualified intermediary: it does not give legal, tax, or investment advice, and the exchanger chooses the replacement property. The home page and the about page give different counts of Certified Exchange Specialists on staff, so ask who would be assigned.