Tax-deferred 1031 exchanges have become a popular manner in which to defer the tax on the gain of the sale of real estate.
Provided all tax laws are complied with, First Bergen Deferred Exchange, L.L.C. (a member of the First Bergen Title Agency, L.L.C. family) will act as the intermediary until such time as the replacement property can be purchased.
During the period of the exchange, we will hold the proceeds of sale in a safe, secure money-market account or Certificate of Deposit. We will never place the proceeds into an at-risk investment.
Upon the purchase of the replacement property, the proceeds will be delivered via check or wire to the appropriate party.