Security

We do not engage in deferred exchanges and therefore do not generally hold large bank balances. In most cases, the QI functions required in a reverse exchange are performed by one of our preferred QI partners and we hold no cash at any time.

If we do hold cash at the conclusion of certain forms of reverse exchange, we transfer these funds immediately to the Exchangor. While these funds are in our possession, they are held in daily liquidity, demand-deposit accounts at established super-regional banks for which the investment risk is negligible. All significant interest earned (there is almost never any interest earned) is paid to the Exchangor.