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1031 Exchange Services

Trusted Expertise for Your 1031 Exchange
Beacon Bank is a trusted Qualified Intermediary for Section 1031 exchanges, offering expert guidance and strategic insight for real property exchanges. With over $30 billion in completed exchanges nationwide, our experienced team ensures your transaction is handled with confidence. A Section 1031 exchange is one of the few techniques available to postpone or potentially eliminate taxes due on the sale of qualifying properties.

Benefits of a 1031 Exchange

A Section 1031 exchange lets you defer or potentially avoid taxes on qualifying property sales. This tax advantage enables you to leverage investments, upsize, diversify, or consolidate assets, and improve cash flow.

Security of Funds

With us as your Qualified Intermediary, your funds are safe in a dedicated escrow account, separated from others. Fund transfers require your approval and signature.

Our Services

We make the process simple, secure, and efficient:

  • Initial and ongoing consultation on exchange strategies
  • Preparation of all required 1031 exchange documents
  • Segregated escrow account for every exchange
  • Coordination with your tax and legal advisors
  • Digital record of all executed documents

Security of Deposits

Whether you are in Boston, New York, Chicago, or anywhere else in the U.S., the proceeds of your property sales are well cared for when you work with us. Each exchange is held in a unique escrow account. Any movement of funds from the escrow account requires your direction and signature. Your deposits are held by Beacon Bank – member FDIC – a Massachusetts chartered bank.

Nine Steps to a Successful Exchange

    

  1. Enter into an Exchange Agreement with Beacon Bank as your Qualified Intermediary (QI).
  2. Assign the sales contract for the relinquished property to the QI.
  3. Convey title of the relinquished property directly to the purchaser at closing.
  4. Net sales proceeds are sent to the QI at closing.
  5. Identify replacement property within 45 days.
  6. Contract to purchase the replacement property
  7. Assign the purchase contract to the QI.
  8. Close on the replacement property within 180 days.
  9. QI uses exchange funds to purchase the replacement property and directs the seller to convey title directly to you.


Meet Our 1031 Exchange Services Team 

We’re ready to work with you and your advisors to structure the most advantageous exchange possible.

IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with IRS requirements, any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.

Beacon Bank is a full-service financial institution with branches in MA, CT, VT, NY, and RI.

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