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