The Chicago-based title insurance underwriter Advocus National Title Insurance Company has rolled out a new 1031 exchange service offering.
The Advocus National 1031 Exchange LLC is an entity owned and operated by Accruit, a leading 1031 exchange Qualified Intermediaries. Advocus will provide clients access to 1031 exchange services supported by Exchange Manager Pro, a patented 1031 exchange workflow technology.
“In essence, a 1031 exchange lets investors keep more of their money working for them by delaying taxes on their gains,” said Karen Courtney, corporate counsel and national commercial manager at Advocus. “With our new 1031 exchange services, we’re making it easier for customers to navigate the process and secure their financial future.”
According to Advocus, qualification for a 1031 exchange requires the proceeds from the sale of an investment property to be reinvested in a similar property within 45 days to identify potential replacements and 180 days to close on the new property. Advocus will help to qualify and coordinate the 1031 exchange in its role as Managed Service Facilitator while Advocus National 1031 Exchange LLC will serve as a Qualified Intermediary to facilitate the transaction by holding the proceeds from the sale and ensuring compliance with IRS regulations.
“By providing access to 1031 exchange services, we’re helping real estate professionals, investors, and businesses leverage 1031 exchanges to grow wealth and achieve their goals,” Courtney added. “The real estate market is a major source of wealth generation and economic growth, and we’re very happy to help our customers and agents navigate this complex terrain with confidence.”
