Although many exchangers usually use a language in their purchase and sale agreement to determine their intention to make an exchange, the internal income code does not allow it. Many stockbrokers and real estate agents add an exchange language to the contract for several reasons: some typical languages used under Section 1031 include: for an exchange under Section 1031, it is essential that purchase and sale contracts be assigned by both parties. To arrange a regular exchange including a direct act, the qualified intermediary must be included in a contract as the buyer of the new property and seller of the abandoned property. The taxpayer must review its agreements to ensure that it is not prohibited to transfer its long-selling positions to a qualified intermediary. 4. Legal 1031 Exchange Services, Inc. is a qualified intermediary for IRC 1031 Tax Deferred Exchanges and cannot provide tax or legal advice. Not only does this proverb define the investor`s intent, but allows companies like Exchange Resource to connect to sales contracts. Buyer acknowledges that Seller intends to proceed with a deferred exchange transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations and that Seller`s rights, title and interest (but not obligations) are assigned to Exeter 1031 Exchange Services pursuant to this [insert name of contract of sale or sale or sale or fiduciary duty]. LLC, as seller`s qualified intermediary, for the purpose of closing seller`s 1031 Exchange transaction. .