How to ensure your QI is on the up and up
Abstract: Qualified intermediaries (QIs), which are similar to escrow companies, play an important role in Section 1031 or like-kind exchanges. Unfortunately, however, many states simply don’t pay much attention to the QI industry. That’s why it’s crucial that those exchanging business or investment property thoroughly vet the QI before signing on the dotted line. This article explains how a QI works and what to look for in one when performing due diligence.