NAC645G.020. “Act as a qualified intermediary” interpreted.

Latest version.

As used in subsection 1 of NRS 645.6065, the Division will interpret “act as a qualified intermediary” to include:

     1. Entering into an agreement with a client who wishes to:

     (a) Relinquish real property located in Nevada in exchange for other real property in a tax-deferred exchange; or

     (b) Acquire real property located in Nevada that the client identifies to replace relinquished property in a tax-deferred exchange.

     2. Maintaining an office in Nevada to solicit or conduct business as a qualified intermediary, regardless of where the real property which is the subject of the exchange is located or where the client resides.

(Added to NAC by Real Estate Div., eff. 3-30-94; A 3-1-96; R126-04, 10-31-2005)—(Substituted in revision for NAC 645.774)

                    
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