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                <!-- Why CLX -->
  <div id="wrapper">
<div id="header"><!--Start of header -->
  <div id="mast"><img src =http://i1256.photobucket.com/albums/ii488/terafanb/guildwars2/26.png height="99" width="774="></div>
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  <div class="Heading">The selection of a Qualified Intermediary (QI) is a very important decision that might impact the outcome of your 1031 exchange. Before making your choice, you should be aware of asking the potential QI the following questions:</div>

<div class="Question">  
Q: Are you qualified to handle my exchange?
A: CLX Exchange Accommodators (CLX) is a member of Federation of Exchange Accommodators (FEA) and has a Certified Exchange Specialist® (CES®) on staff. A CES® designation demonstrates to owners of investment property considering an exchange that they have chosen a professional who meets certain requirements of knowledge and experience.
<div class="Question">    
Q: How long have you served as a Qualified Intermediary?
A: CLX was the first exchange company in Southwest Colorado to offer its services as a QI and has been facilitating 1031 Tax Deferred Exchanges since 1991. We are located in the same building as Colorado Land Title Company LLC, making it easy for the customers to have all their real estate transaction needs handled under one roof. CLX is a long-established company with a great reputation and extensive resources. 
<div class="Question">    
Q: Can you give me tax and/or legal advice?
A: A QI within the meaning of Treas. Regulations § 1.1031(k)-1(g)(4) is a person who “is not the taxpayer or disqualified person”. Disqualified person is defined as “the agent of the taxpayer at the time of the transaction”. “A person who has acted as the taxpayer’s (…) attorney, accountant, (…) or real estate agent or broker within the 2-year period ending on the date of the transfer of the first of the relinquished properties is treated as an agent of the taxpayer at the time of the transaction”.
We strongly recommend that our customers consult their own accountants and/or attorneys for all tax advice regarding their particular situation.
<div class="Question">     
Q: Do you comply with IRC rules and regulations?
A: CLX staff has thorough understanding of all issues and aspects of 1031 exchanges. It is very critical that QI follows the rules and regulations of the Tax Code and does not make any exceptions. If your QI bends the law in order to accommodate your exchange, you should be aware that your exchange may be disqualified by the IRS, and may impose substantial penalties and fees on top of requiring capital gain taxes. More…
<div class="Question"> 
Q: How much interest does a taxpayer accrue?
A: We provide full disclosure of the fees involved in the transaction in the Exchange Agreement. Our customers are entitled to receive earned interest based on the First National Bank of Durango Investment Money Market rate, from the time when the Relinquished Property funds are initially deposited. Interest does not accrue on those funds withdrawn during the first 30 calendar days after the funds are deposited in Exchange Trust Account. Also, interest does not accrue if customer elects to have the exchange funds held at First National Bank of Durango in an Unlimited FDIC insurance non-interest bearing account (available through December 31, 2012).
<div class="Question"> 
Q: How safe are my exchange funds?
A: Our customers’ exchange funds are held by First National Bank of Durango in individual segregated Exchange Trust accounts. Taxpayers exchange funds shall be deposited in such a manner to require the signatures of both CLX, as Qualified Intermediary and the Taxpayer to authorize any disbursements as those terms are defined in IRC Section 1031 regulations and in compliance with State of Colorado CRS 6-1-721. Our customer may elect to have exchange funds held in an Unlimited FDIC Insurance non-interest bearing account (available through December 31, 2012). Bank administration fees will apply. 
<div class="Question"> 
Q: Can you handle complex exchanges (e.g., reverse, build-to-suit, etc.)?
A: We have broad experience in build-to-suit and reverse exchanges. New buildings of several banks and major auto dealerships are a few examples of the work we’ve done for our satisfied customers.</p></div><!--end of content -->

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                is a 1031 Exchange?</a> <strong>l</strong> <a href="exchangeRequ.html">
1031 Exchange Requirements</a> <strong>l</strong> <a href="typesOfExchange.html">Types of Exchanges</a> <strong>l</strong> <a href="whyCLX.html">Why CLX?</a><br>
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