Why can’t my real estate agent act as a Qualified Intermediary?
Your real estate agent is a “disqualified person” as defined in Treasury Regulation §1.1031(k). A disqualified person cannot act as a Qualified Intermediary, and also cannot accept identifications from or make identifications on behalf of the Exchangor. Related parties are also disqualified persons, along with attorneys or CPAs who have represented the taxpayer within the last two years.
