HOW IT WORKS

1. The Exchanger enters into a contract to sell the Relinquished Property.

2. The Exchanger enters into an Exchange Agreement with a Qualified Intermediary (Exchange Alliance).

3. The contract between the Exchanger and the Buyer is assigned to Exchange Alliance.

4. At the closing, the Exchanger deeds the property to the Buyer, and the sale proceeds are deposited with Exchange Alliance.

5. Within 45 days after closing, the Exchanger identifies possible replacement properties to Exchange Alliance.

6. The Exchanger enters into a contract to purchase a Replacement Property.

7. The contract between the Exchanger and the Seller is assigned to Exchange Alliance.

8. The closing must take place within 180 days of the first closing. The Seller deeds the Replacement Property to the Exchanger, and the monies held by Exchange Alliance are used to make this purchase.

9. A 1031 Exchange has been completed.

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