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Trusts & Estates awards Accruit Exchange Manager™ near-perfect score
The Accruit 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™ was featured in the most recent Trusts & Estates magazine's monthly technology review. The reviewer, Donald H. Kelley of Kelley, Scritsmier & Byrne, P.C., regularly covers technology and related issues for the legal publication, which is devoted to the wealth management sector.
His review considered four key criteria, and awarded the 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™ 18 out of a possible 20 stars, concluding that "[t]he Accruit service furnishes an efficient way to handle the details of like-kind exchanges and all the associated document preparation and record keeping."
We've always touted the efficiency and effectiveness of Accruit technology, and it's rewarding to see independent analysts reaching the same conclusions.
