Accruit Technologies Successfully Implements 1031 Exchange Software Exchange Manager Pro(SM) for Asset Preservation, Inc.

Denver, CO, September 12, 2023 – Accruit Technologies, a Millennium Trust solution, announced today the successful implementation of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM, patented 1031 exchange software, for Asset Preservation, Inc. (API), a national Qualified A person acting to facilitate an exchange under section 1031 and the regulations. This person may not be the taxpayer or a disqualified person. Section 1.1031(k)-1(g)(4)(iii) requires that, for an intermediary to be a qualified intermediary, the intermediary must enter into a written "exchange" agreement with the taxpayer and, as required by the exchange agreement, acquire the relinquished property from the taxpayer, transfer the relinquished property, acquire the replacement property, and transfer the replacement property to the taxpayer. Intermediary of publicly-traded parent company Stewart Information Services Corp (NYSE: STC).

Exchange Manager Pro^SM standardizes the Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange workflow through embedded controls to track deadlines, automated document creation and distribution, electronic signatures, and data consolidation, resulting in 30% improved efficiencies and increased client satisfaction. In June of 2023, Accruit Technologies successfully completed a System and Organization SOC 2 Type II audit achieving compliance with the industry leading standards for customer data and security.

“We established an initiative that would allow advancements in technology to improve our company’s customer experience. A significant part of this initiative was the implementation of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM,” said API President Javier Vande Steeg. “ The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM has greatly improved our efficiencies in both our exchange management practice and our document preparation. Accruit Technologies is responsive and works tirelessly to deliver an outstanding solution. Their team of analysts and developers are knowledgeable, not only of their technical field, but also of the 1031 exchange rules and process. We’re very excited to see how The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM will continue to improve our customers’ experience.”

“The integration of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM into Asset Preservation’s operations is a large milestone for Accruit Technologies,” stated Accruit President Brent Abrahm. “Javier and his team support our vision of revolutionizing the way the real estate industry manages Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s. We are honored to work with one of the largest and most well-respected Qualified Intermediaries in the industry, and we look forward to our SaaS offering impacting their customers’ experience through operational efficiencies moving forward.”

About Accruit Technologies
Accruit Technologies, a Millennium Trust solution, developed The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Manager Pro^SM, a proprietary, cloud-based SaaS application that makes administering Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange s safe, secure, and simple. Accruit Technologies achieved SOC 2 Type II compliance with industry leading standards for customer data security.