The intermediary in a section 1031 exchange, used especially in a Delayed (Tax-Free) Exchange who holds money or property for a short time to facilitate the exchange. See Qualified Intermediary.
Example: After Allen sold his land, the money was held by an accommodating party, then used to buy the new tract of land that Allen wanted.
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 | Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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