An Independent Third Party (a qualified intermediary) who enters into an agreement with the Taxpayer (Exchangor) to transfer the relinquished property from the Taxpayer to the Buyer. The Accommodator holds the proceeds of the relinquished property until they are invested in the replacement property. At that time, the Accommodator transfers title to the replacement property from the Seller to the Exchangor. The Accommodator cannot be the Exchangor’s agent.
