1. Agreement to These Terms
These Terms of Use ("Terms") are a binding agreement between you and Precision Exchange, Inc. ("Precision 1031," "we," "us" or "our"). They apply to www.precision1031.com and any page, form, calculator, download or other feature we offer through it (together, the "Site"). By using the Site, you agree to these Terms and to our Privacy Policy. If you do not agree, please do not use the Site.
2. What the Site Is, and What It Is Not
Precision 1031 acts as a qualified intermediary for tax-deferred exchanges under Section 1031 of the Internal Revenue Code. The Site describes our services and provides general educational information about 1031 exchanges.
- The Site does not open an exchange. An exchange begins only when you and Precision Exchange, Inc. sign a written exchange agreement before your sale closes. Submitting a form, calling us or downloading a document does not create an exchange or any obligation for us to accept one.
- Your exchange agreement controls. The terms of any exchange, including how funds are held and disbursed, our fees, and your rights and ours, are set out in your signed exchange agreement and related documents. If those documents conflict with these Terms, those documents control.
3. No Tax, Legal or Investment Advice
Precision Exchange, Inc. does not provide tax, legal, accounting or investment advice. Everything on the Site, including articles, examples, FAQs, calculators and forms, is general information only. It is not a recommendation for your situation and may not reflect the most recent changes in law. Whether an exchange is right for you, and how it will be taxed, depends on your facts. Consult your own CPA, attorney or financial advisor before acting on anything you read here.
Being a qualified intermediary does not make us your agent, broker or fiduciary for buying or selling property. You and your advisors are responsible for choosing, evaluating and closing on any property.
4. Calculators, Examples and Forms
Our calculators and worked examples are illustrations. They use simplified assumptions, such as top federal tax rates, and run entirely in your browser. Results are estimates, not a tax calculation, and may differ from what you actually owe. Deadline dates shown by our tools should be confirmed with us and your advisors.
Forms we make available, such as our 45-day replacement property identification form, are provided for convenience. You are responsible for completing them accurately, signing them, and delivering them on time to the right party. A form only identifies property for your exchange if it meets the requirements of the Treasury Regulations and your exchange agreement.
5. Eligibility
You must be at least 18 years old and able to enter into a binding contract to use the Site. Our services are offered for property and transactions in the United States.
6. Information You Send Us
- You agree that information you submit through the Site is accurate and that you have the right to share it, including information about other people involved in your transaction.
- Please do not send Social Security numbers, tax ID numbers, bank account numbers or wire instructions through our website forms or by email. We collect sensitive information through secure channels when we prepare your exchange documents.
- We use what you send us as described in our Privacy Policy.
7. Wire Fraud Warning
Criminals target real estate transactions with fake emails that appear to come from a qualified intermediary, title company or agent. We will never change wire instructions by email. Before you send or rely on any wire instructions that appear to come from us, call us at a phone number you know is ours, such as (310) 498-4883, to confirm them. We are not responsible for funds you send based on instructions you did not verify with us by phone.
8. Acceptable Use
You agree not to:
- Use the Site for any unlawful or fraudulent purpose, or to impersonate any person or company.
- Submit false information, spam or automated form submissions.
- Copy, scrape or harvest content or data from the Site by automated means, except as allowed for search engines by our robots.txt file.
- Interfere with the Site's security or operation, or try to access any system or data you are not authorized to access.
- Upload or transmit viruses or other harmful code.
9. Intellectual Property
The Site and its content, including text, graphics, logos, calculators, forms and design, belong to Precision Exchange, Inc. or its licensors and are protected by copyright, trademark and other laws. "Precision 1031" and our logo are our trademarks. You may view the Site and print or download pages and forms for your own personal or internal business use in connection with a 1031 exchange. You may not otherwise copy, modify, republish or distribute our content without our written permission.
10. Links to Other Websites
The Site may link to websites run by others, such as the IRS or other resources. We do not control those sites and are not responsible for their content, accuracy or privacy practices.
11. Changes to the Site and These Terms
We may change, suspend or discontinue any part of the Site at any time. We may also update these Terms. When we do, we will change the "Last Updated" date above. Your continued use of the Site after an update means you accept the updated Terms.
12. Disclaimer of Warranties
The Site and everything on it are provided "as is" and "as available." To the fullest extent the law allows, we disclaim all warranties, express or implied, including warranties of accuracy, completeness, merchantability, fitness for a particular purpose and non-infringement. We do not promise that the Site will be uninterrupted, error-free or free of harmful components.
13. Limitation of Liability
To the fullest extent the law allows, Precision Exchange, Inc. and its officers, directors, employees and agents will not be liable for any indirect, incidental, special, consequential or punitive damages, or for lost profits, lost tax benefits or lost data, arising from your use of, or inability to use, the Site or its content, even if we were told such damages were possible. Our total liability for any claim relating to the Site will not exceed $100. This section does not limit our obligations under a signed exchange agreement, which are governed by that agreement.
14. Indemnification
You agree to defend, indemnify and hold harmless Precision Exchange, Inc. and its officers, directors, employees and agents from any claims, losses and expenses, including reasonable attorneys' fees, arising from your misuse of the Site, your violation of these Terms, or your violation of any law or the rights of another person.
15. Governing Law and Venue
These Terms are governed by the laws of the State of Florida, without regard to its conflict-of-law rules. Any dispute relating to these Terms or the Site will be brought only in the state or federal courts located in Florida, and you consent to the jurisdiction of those courts.
16. General
- If any part of these Terms is found unenforceable, the rest remains in effect.
- Our failure to enforce any part of these Terms is not a waiver of it.
- These Terms, together with our Privacy Policy, are the entire agreement between you and us about the Site. Any signed exchange agreement is a separate agreement.
- You may not transfer your rights under these Terms. We may transfer ours, for example as part of a merger or sale of our business.
17. Contact Us
Questions about these Terms? Contact Precision Exchange, Inc. at joel@precision1031.com or call (310) 498-4883.