{
  "url": "sellingrealestateflorida.com/faq/do-i-need-to-hire-a-qualified-intermediary-qi-for-a-1031-exchange",
  "name": "Do I need to hire a Qualified Intermediary (QI) for a 1031 exchange?",
  "@type": "FAQPage",
  "@context": "https://schema.org",
  "speakable": {
    "@type": "SpeakableSpecification",
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  "mainEntity": [
    {
      "name": "Do I need to hire a Qualified Intermediary (QI) for a 1031 exchange?",
      "@type": "Question",
      "acceptedAnswer": {
        "text": "Yes, hiring a Qualified Intermediary (QI) is mandatory for a valid 1031 exchange. The IRS rules explicitly state that you cannot directly receive the proceeds from the sale of your relinquished property. The QI holds the funds in escrow, ensuring constructive receipt does not occur, which would invalidate the exchange and make the sale taxable. The QI also prepares the necessary exchange documents and ensures compliance with IRS regulations throughout the process. This is a non-negotiable step to defer capital gains.",
        "@type": "Answer",
        "description": "Yes, a Qualified Intermediary (QI) is legally required to hold sale proceeds and manage the exchange, preventing direct receipt of funds which would invalidate the tax deferral."
      }
    }
  ],
  "description": "Yes, a Qualified Intermediary (QI) is legally required to hold sale proceeds and manage the exchange, preventing direct receipt of funds which would invalidate"
}