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Post# of 9399
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detearing

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detearing

Re: BlockTrade post# 7871

Tuesday, 04/21/2009 3:50:25 PM

Tuesday, April 21, 2009 3:50:25 PM

Post# of 9399
Even if the QI goes bankrupt and no malfeasance has taken place, under the U.S. Bankruptcy Code, deposit holders with the QI are considered unsecured creditors, placing them on the lowest rung of the payout ladder.

Either scenario will most likely kill the replacement property deal and the buyer will have to pay taxes on the proceeds from the relinquished property. In addition, the buyer may be subject to penalties or even a law suit due to breach of contract on the replacement property transaction...

Kind of what you were saying Grumman!

http://cbcmarketconnect.com/2008/12/03/qualifying-qualified-intermediaries-the-landamerica-lesson/


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