Language to Include in a Contract

LANGUAGE TO INCLUDE IN A CONTRACT TO:

SELL PROPERTY AS PART OF A TAX DEFERRED EXCHANGE

Seller reserves the right to structure this transaction as a tax-deferred exchange under IRC § 1031. Seller agrees to indemnify and hold Buyer harmless from any expense or liability resulting from Buyers cooperation in such exchange. Seller’s exchange will create no time delays in the close of this transaction. Buyer agrees to sign exchange documents as reasonably necessary.

PURCHASE REPLACEMENT PROPERTY

Buyer is doing a tax-deferred exchange under IRC § 1031 and requests Seller’s cooperation. Buyer agrees to indemnify and hold Seller free and harmless from any expense or liability resulting from Seller’s cooperation in such exchange. Buyer’s exchange will create no time delays in the close of this transaction. Seller agrees to sign exchange documents reasonably necessary.

(Keep it simple.)