IPX1031 Investment Property Exchange Service - National Reverse and Improvement Exchange Division (Fidelity National Financial)
- Successfully processed and managed tax deferred Safe Harbor 1031 Reverse and Improvement Exchanges for single and multiple asset and investment real and personal property transactions according to IRC §1031 and Revenue Procedure 2000-37.
- Coordinated the entire exchange process from open to close, working directly with investment property owners, business owners, corporate officers, their attorneys and tax advisors, real estate agents, insurance providers, environmental consultant, escrow agents and settlement officers or closing attorneys.
- Handled the opening of the exchange file through the completion of all exchange transactions. Entered and updated exchange data accurately into computer tracking application.
- Prepared exchange documents in compliance with strict IRS Procedures.
- Maintained accurate records of all incoming exchange funds, the disbursement of exchange funds and providing detailed accounting reports to each client.
- Reviewed and executed listing agreements, purchase and sale contracts, escrow instructions, deeds and settlement statements for transactions closing with an escrow company.
- Prepared closing instructions and closing statements for transactions closing without an escrow company.
- Obtained title reports. Verified that all requirements for title insurance were met prior to closing.
- Worked directly with the Lenders, their legal counsel, and underwriters to ensure that residential, commercial and construction loan documents were prepared in compliance with exchange procedures.
- Reviewed and executed the loan documents in behalf of the Exchange Accommodation Titleholder.
- Obtained and reviewed Phase I and Phase II environmental site assessment reports, title reports, deeds, construction contracts and other real estate transaction documents.
- Prepared and filed documents for the formation, amending, dissolution and annual reporting of limited liability companies in all states.
- Created various worksheets and tools to assist clients in understanding the financial aspect of the exchange process so accurate information would be provided.