1031 Exchange Services

As a Qualified Intermediary under Section 1031 of the Internal Revenue Code, we offer strategic insight and expertise on structuring real property exchanges. Our experienced team has completed more than $15 billion in exchange transactions across the nation.

Like-Kind Exchange Tax Deferral Solutions

Brookline Bancorp 1031 Exchange Services provides individuals and institutions with comprehensive, like-kind exchange tax deferral solutions and strategies. Participants can postpone or even eliminate taxes owed on the sale of qualifying properties through a properly executed 1031 exchange.*

Security of Deposits

Whether you are in Boston, New York, Chicago, or anywhere else in the U.S., the proceeds of your property sales are well cared for when you work with Brookline Bancorp 1031 Exchange Services:

  • Each exchange is held in a unique escrow account. Any movement of funds from the escrow account requires your direction and signature.
  • Your deposits are held by Brookline Bank, member FDIC — a Massachusetts chartered bank subsidiary of Brookline Bancorp.  

 

  • A Section 1031 exchange is one of the few techniques available to postpone or potentially eliminate taxes due on the sale of qualifying properties.
  • Tax savings allow for efficient leveraging and upsizing of investments.
  • 1031 exchanges allow for diversification or consolidation of assets.
  • Improved cash flow by deferring tax payments.


Security of Funds

With Brookline Bancorp 1031 Exchange Services as your Qualified Intermediary you can rest assured that your funds are secure. Each exchange is held in a unique escrow account, segregated from any other account. By design, any movement of funds from the escrow account requires your direction and signature. 



 

Our services are designed to provide clients with a high level of speed, flexibility, ease, and expertise. Brookline Bancorp 1031 Exchange Services will:

  • Provide initial and ongoing consultation on exchange strategies, options, and solutions.
  • Prepare all 1031 exchange documents including the Exchange Agreement, Assignment of Rights, and Notice of Assignments.
  • Open a segregated escrow account for every exchange completed. 
  • Work closely with your tax and legal advisors to efficiently and effectively complete your exchange.
  • Provide a digital record of all executed exchange documents and files.

 

 

 

  1. Exchanger enters into an Exchange Agreement with Brookline Bancorp 1031 Exchange Services, the Qualified Intermediary (QI).
  2. Exchanger assigns sales contract to sell relinquished property to QI.
  3. Exchanger conveys title of relinquished property directly to purchaser at closing.
  4. Net sales proceeds are sent to QI at closing.
  5. Exchanger identifies replacement property within forty-five days.
  6. Exchanger contracts to purchase replacement property.
  7. Exchanger assigns purchase contract to buy replacement property to QI.
  8. Closing of the replacement property occurs within 180 days.
  9. QI purchases replacement property with exchange funds from the sale of the relinquished property and directs the seller to convey.

 

 

Contact Us

We are ready to work with you and your tax and legal advisors to structure the most advantageous 1031 exchange possible.

Call 617-927-7962 today to talk to us about your 1031 exchange situation, or email Tom St. Jean at tstjean@brkl.com

Brookline Bancorp 1031 Exchange Services, LLC is a subsidiary of Brookline Bank.

*IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.