Reverse Exchange | Morgan County Abstract Company | Cass County Abstract Company

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Midwest Realty Exchange, LLC is a real estate exchange company for reverse like-kind exchanges under Code Section 1031 of the Internal Revenue Code. MRE takes title (for a limited period of time) to property that the taxpayer wants to buy with sale proceeds from a property he wants to sell. If he sells the property first then he can roll that money into the property he wants to buy (doing what is called a deferred like kind exchange) and avoid capital gain tax. However, if he has to buy the property he wants before he sells, then it does not work unless he does what is called a reverse exchange. <image>

MIDWEST REALTY EXCHANGE, LLC

Midwest Realty Exchange, LLC is a series limited liability company established by Morgan County Abstract Company to serve as an Exchange Accommodation Titleholder in reverse like-kind exchanges under Internal Revenue Code Section 1031. Midwest Realty Exchange, LLC will hold title to the customer's relinquished or replacement real estate during the period of a tax-deferred reverse real estate exchange for up to 180 days while the customer completes the sale of the relinquished property and the purchase of the replacement property. Each customer's land will be held in a separate series LLC so that the customer's real estate is not commingled with the assets or liabilities of any other customer or the general assets of Morgan County Abstract Company.

Internal Revenue Code Section 1031 (a) (1) states:
“No gain or loss shall be recognized on the exhange of property held for productive use in a trade or business or for investement if such property is exchanged solely for propery of like-kind which is to be held either for productive use in a trade or business or for investment.”

KEY BENEFITS

Liability Protection: MRE holds each property in a separate series LLC maximizing the
protection for the customer’s real estate.
Reasonable Cost: MRE is offered as a service of Morgan County Abstract Company with a fee schedule that is considerably lower than other reverse exchange intermediaries.
Access to Legal Advisors: Morgan County Abstract Company and MRE can work with your client’s or customer’s advisors or can facilitate preparation of the necessary agreements through experienced real estate attorneys at the offices of Rammelkamp Bradney, PC.
Personalized Attention: By choosing MRE to assist with your reverse exchange, you will be able to work with attorneys and title examiners with the experience and knowledge necessary to help your next erverse real estate exchange run smoothly.

FEE SCHEDULE

Farmland: without residence or commercial buildings.25% of the sale price (minimum $2000)

Real Estate: with residence or commercial buildings.25% of the sale price (minimum $2500)

230 West State Street • Jacksonville, IL 62650
ph 217-243-7432 • fax 217-243-8409
mcac@titleco.biz

138 East Beardstown St. • Virginia, IL 62691
ph 217-452-3118 • fax 217-452-3171
ccac@titleco.biz

46 S Hill Street • Winchester, IL 62694
ph 217-742-9014 • fax 217-742-0880
mcac@titleco.biz


210 E Douglas St. • Petersburg, IL 62675 ph 217-632-2351 • fax 217-632-7627 mcac@titleco.biz