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Assignment Agreement

Agreement between the Exchanger and the Qualified Intermediary.  This agreement is a required Safe Harbor under the deferred exchange regulations when there are direct transfers of qualifying Relinquished Property and/or Replacement Property.

Assignment of Contract Rights

When a taxpayer is doing a delayed exchange, it has to link the sale and the later purchase together as an exchange of the one for the other.  This is accomplished by transferring the relinquished property to the qualified intermediary and receiving back the replacement property from the qualified intermediary. In order to make this process as simple as possible, the IRS regulations state that by the taxpayer assigning the rights under the sale and purchase contracts to the qualified intermediary, for tax purpose that is sufficient to deem the properties to be exchanged between the taxpayer and the qualified intermediary.

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