Qualified Intermediary Negligence
A title company affiliated exchange company was found negligent for failing to use a reasonable standard of care in structuring a regular delayed exchange when an improvement exchange was necessary. Kreisers Inc. et al. v. First Dakota Title Limited Partnership et al., 2014 S.D. 56 (S.D. 2014). This case illustrates the truth that exchanges are not just fill-in-the-blanks paperwork. Working with a company that takes time to structure is critical to the success of an exchange.