STARKER EXCHANGES

Facilitator of Real Estate Exchanges (Starker)

A Starker Exchange (also called a 1031 Delayed Exchange) account allows a seller to complete a non-simultaneous real estate exchange and postpone capital gain taxes.

As intermediary, Borel Private Bank & Trust Company will:

• Hold the sale proceeds in an interest-bearing account while the seller locates a replacement property
• Hold funds in an insured money market account up to applicable FDIC limits

When replacement property has been located, the intermediary purchases the property and simultaneously conveys it to the beneficiary. The exchanger's real estate attorney provides the exchange documentation needed to complete the transaction. The exchange is carefully structured to avoid actual or constructive receipt of the sale proceeds and to prevent characterization of the transaction as a taxable sale and reinvestment.

Borel Private Bank & Trust Company has been serving the real estate community for over twenty years. As with many business ventures, success depends on the team of professionals. One of the most important members of the team is the intermediary.

For more information, please contact Carolyn Nichols.