Accommodator

The company which escrows taxpayer’s funds between the sale of the relinquished property and the purchase of the replacement property.

Buyer

The buyer of the relinquished property.

Cash Boot

Any cash, note or seller carry back received (or not reinvested) by the taxpayer during an exchange period.

Exchanger

Taxpayer who owns real property and wants to dispose his property and acquire a replacement real property to receive the benefits of a 1031 exchange.

Exchange Attorney

Attorney gives advice, takes responsibility, conducts a cost/benefit analysis, structures the exchange to qualify under IRC 1031, prepares necessary exchange documents, oversees the entire exchange transaction and provides guidance.

Relinquished Property

The property being exchanged.

Replacement Property

The property being acquired in the exchange.

Seller

The seller of the replacement property.

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