Friday, June 8, 2007

Looting the Escrow Account: A 1031 Cautionary Tale Continued

National News

By Mark Heschmeyer

There is increasing anxiety, anger and upheaval in the 1031 property exchange industry following the failure of a second high-dollar 1031 exchange accommodator this year. That case puts more than $250 million total in jeopardy and follows the disclosure of another case involving an exchange intermediary who is missing with more than half a million dollars of his client's money. The troubles first came to light a couple of weeks ago when CoStar Group reported The 1031 Tax Group...
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http://www.realestate-jacksonvilleflorida.com/real-estate-articles.php

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