Accruit Blog

Using a White Knight to Rescue a Failing Reverse Exchange

What is a Reverse Exchange and What Causes it to Fail?

A conventional IRC §1031 tax deferred exchange involves, among other things, a taxpayer’s sale of old property (the “relinquished property”) followed by the purchase of new property (the “replacement property”) within a 180 day period (see http://www.accruit.com/1031-news/%C2%ADare-tax-deferred-exchanges-real-estate-approved-irs ). A so-called reverse exchange takes place when the taxpayer is forced to acquire the replacement property, or face losing it, prior to the sale of the relinquished property.  The sequence of the disposition and acquisition is “reverse” from the conventional transaction.

Accruit Elects new Board Chairman

Denver, CO – August 19, 2019 Accruit, a national leading qualified intermediary and back-office managed service provider of 1031 like-kind exchanges announced multiple board appointments today.

Joseph C. Lane, who has been on the board of directors at Accruit since September 2007, accepted a new role of Chairman of the Board of Directors. Joe currently also serves as Vice Chairman of Napier Park Global Capital, a $12 Billion Private Equity and Asset Management firm in New York and London.

Accruit Poised for Growth with New Key Leadership Hires

Accruit, a national leading qualified intermediary and back-office managed service provider of 1031 like-kind exchanges announced two new leadership hires today.

Britton Goldman joined Accruit in a newly created role of Controller, to strengthen and automate Accruit’s finance, treasury and accounting processes. With eleven years of experience in both public accounting and finance roles, he has held a variety of senior finance roles at GE within Digital, oil & gas and real estate divisions. Britton is a certified public accountant in Texas. He received his Master of Science and a Bachelor of Administration in Accounting from Texas Tech University.

Accruit Divests Ownership and Use of PaySAFE Name

Denver -- Accruit, LLC announces today that it has divested its ownership and the use of the name and mark PaySAFE. Should Accruit choose to offer future transactions similar to those previously provided under the PaySAFE name, those transactions will be managed under the mark and name of Accruit or other entity not utilizing the name PaySAFE.

Accruit Announces Formation of Technology Advisory Board

Accruit, a financial technology company and qualified intermediary specializing in 1031 exchange services, is pleased to announce its newly-formed technology advisory board, a strategic committee of technology experts.

Denver, CO – Accruit’s newly assembled technology advisory board held its inaugural meeting last month at the company’s Denver headquarters. The board is comprised of technical subject matter experts from inside and outside the organization. The purpose of the board is to provide strategic guidance on evolving technologies and developing new solutions that continually improve the client experience and grow Accruit’s service offering.

Selecting the Entity for a Real Estate Purchase – Limited Liability Companies

In our fourth and final installment of our continuing series on entity selection for owning real estate, we will address the business and tax law considerations concerning limited liability companies.

What is a Limited Liability Company?

Limited liability companies (LLCs) are the most popular choice of organizational form because of the inherent flexibility in most state statutes that enhances the ability of the entity to adopt features that best serve its objectives.

FEA 2019 Mid-Year Meeting and Hill Visit

Accruit Executive Vice President Max Hansen and Associate General Counsel Jordan Born are in Washington, DC for the Federation of Exchange Accommodators' mid-year meeting. On March 12, they will participate in educational sessions on topics surrounding taxes and opportunity zones. On March 13, FEA members will visit Capitol Hill to discuss the importance of 1031 exchanges with members of Congress and their staff.

Buying and Selling Ranches in Montana - Seminar

Accruit Executive Vice President Max Hansen is program co-chair of this fourth annual seminar designed to provide insight into those issues most commonly faced when buying and selling ranches in Montana.

This seminar and its carefully selected faculty is designed to provide insight into issues most commonly faced when purchasing agricultural assets in Montana, including:

Joseph Lane Named Vice Chairman of Napier Park

Accruit board member Joseph Lane was named vice chairman of Napier Park Global Capital and appointed to the firm's leadership team as a member of the Management Committee.

A managing director in Napier Park's Real Assets group, Joe has over 35 years of experience in financial services. He has previously served as CEO of GE Technology Finance and as president of IBM Credit Corporation. Joe has been director and chairman of the Equipment Leasing and Finance Association (ELFA), and chairman of the Equipment Leasing and Finance Foundation. He was elected to the Equipment Finance Hall of Fame in 2015.

Accruit Exchange Manager Simplifies 1031 Exchange Process

Denver -- Accruit, a trusted managed service provider of 1031 exchanges, announced that, since its latest release in 2018, the Accruit Exchange Manager SM ( Exchange Manager) has processed more than a thousand like-kind exchanges in 38 states plus the District of Columbia. With this application, investors and their advisors can efficiently and securely manage 1031 exchange transactions that provide capital gains tax deferral and increased cash flow.
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