Cooperation Clause-Purchase

7.42 Cooperation Clause Addendum.
Addendum/Amendment To Purchase and Sale Agreement

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

IT IS AGREED BETWEEN THE PURCHASER AND SELLER AS FOLLOWS:

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

A material part of the consideration to the purchaser for purchasing is that the purchaser has the option to qualify this transaction as part of a tax-deferred exchange under Section 1031 of the Internal Revenue Code of 1986. Seller agrees to cooperate in the exchange provided seller 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.

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