Securing Your Exchange Proceeds
We often refer Exchangers to Fyntex. This is because years ago they recognized the need of Exchangers nationally to have 24/7 visibility into the lifecycle of their exchange as well the confidence associated with the absolute security of their hard earned exchange proceeds.
They accomplished this by adopting a banking regimen where all Exchanger accounts are fully segregated, and set up in the name of the Exchanger and with the Exchanger's tax identification number. This structure creates an ability for Exchangers to view the activity in their own account within their Exchanger Portal and also ensures that only with the Exchanger's explicit written approval, will 1031 funds be moved in or out of the account.
