Financial Strength, Bonding, Insurance, and Stability
To protect your investment and the integrity of your 1031 Exchange transaction, your Qualified Intermediary (Accommodator) must have a reputation for performance, the capacity and resources to properly service your 1031 Exchange transaction, the experience and expertise to ensure it is completed properly and the necessary insurance and bonding to protect you against possible errors by the Qualified Intermediary or misappropriation of your 1031 Exchange funds by the Qualified Intermediary.
Evidence of Bonding and Insurance
Exeter 1031 Exchange Services, LLC, and its affiliate companies, maintain $3 million in fidelity bond coverage (per occurrence) to protect your fiduciary funds. And, every transaction is protected with $1 million in errors and omissions insurance coverage to insure you from any error or omission that we might make.
Qualified Trust Accounts or Qualified Escrow Accounts
Your 1031 Exchange funds are deposited and held in segregated Qualified Trust Accounts in order to protect your 1031 Exchange funds from an unexpected voluntary or involuntary bankruptcy filing by Exeter 1031 Exchange Services, LLC. Qualified Escrow Accounts serve the same purpose as well, although recent court decisions have leaned more favorably toward the use of the Qualified Trust Account structure.
Internal Process Controls and Risk Management
We have established a multi-layered process that includes process controls, validations, audits and reviews to ensure we deliver on our promises and meet our fiduciary obligations and responsibilities as a Qualified Intermediary for your 1031 Exchange. Nothing escapes our attention in any transaction.
Experience and Expertise
Exeter professionals have a long-standing track record and reputation in designing, structuring and coordinating all kinds of 1031 Exchanges involving multiple types of property, from high-rise commercial office buildings to residential condominium properties, and even personal property like commercial aircraft. Every transaction is handled with the same attention to detail and accuracy because our reputation for excellence is solidified with every successful outcome.
Stable and Trusted
The executives of Exeter 1031 Exchange Services, LLC are pillars of the 1031 Exchange qualified intermediary industry and have been for decades. Our executive team has almost a century of combined experience handling 1031 exchanges. President and CEO Bill Exeter is celebrating his 32nd anniversary in the 1031 Exchange Qualified Intermediary industry. He enjoys a long history and solid reputation among peers. We at Exeter 1031 approach every transaction confident of a successful outcome. You can, too.
State of Washington Required Dislcosures
"Washington state law, RCW 19.310.040, requires an exchange facilitator to either maintain a fidelity bond in an amount of not less than one million dollars that protects clients against losses caused by criminal acts of the exchange facilitator, or hold all client funds in a qualified escrow account or qualified trust."
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