Escrow & Title
In Missouri, a '1031 exchange intermediary' (qualified intermediary) in a like-kind exchange must:
ABe a real estate broker
BHold exchange proceeds as a neutral party, facilitate the exchange documentation, and transfer proceeds to acquire replacement property✓ Correct
CBe approved by MREC
DBe a Missouri-based bank
Explanation
A qualified intermediary (QI) in a Missouri 1031 exchange receives the sale proceeds from the relinquished property sale, holds them during the exchange period, and uses them to acquire the replacement property on the exchanger's behalf — maintaining the tax deferral.
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