Cooperation Clause-Sale

Cooperation Clause For Purchase and Sale Agreement

7.06 Cooperation Clause on Sale or Addendum

The following is part of the Purchase and Sale agreement dated ____________, between
____________________ (Seller) and ____________________ (Buyer).

IT IS AGREED BETWEEN THE SELLER AND BUYER AS FOLLOWS:

This contract will be assigned to Best Exchange, Inc. as the Qualified Intermediary, solely for the purpose of completing the exchange. The purchaser will be notified in writing when the assignment is made. Title however will be conveyed directly from the Owner/Exchangor to the Purchaser as authorized by Revenue Ruling 90-34.

A material part of the consideration to the seller for selling is that the seller has the option to qualify this transaction as part of a tax deferred exchange under Section 1031 of the Internal Revenue Code. Purchaser agrees to cooperate in the exchange provided purchaser incurs no additional liability, cost or expense.


__________________________
Seller

__________________________
Seller

__________________________
Date


__________________________
Buyer

__________________________
Buyer

__________________________
Date


Disclaimer: The information contained at this site is solely provided for information purposes and does not create a business or professional relationship. This web site is intended to provide basic information about I.R.C. Section 1031 tax-deferred exchanges and does not contain legal advice. Our attorney is licensed to practice law in Washington, while she may be able to assist with an exchange in other jurisdictions, you may still need to consult with an attorney licensed to practice law in your jurisdiction before making specific legal and tax decisions.

Send questions, comments or feedback about this site to
se@bestexchangeinc.com; call 1-888-932-1031; or FAX (206) 935-0307 .