Common use of Deeding Clause in Contracts

Deeding. Exchanger and API shall instruct Closing Agent to prepare an instrument transferring legal title directly from Exchanger to Purchaser pursuant to and consistent with and pursuant to Treasury Regulations Section 1.1031 (k)-1(g)(4)(iv), to avoid the duplication of transfer taxes and recording fees. Closing Agent shall also be instructed not to record such an instrument in the name of API unless directed to do so in writing by Exchanger and API.

Deeding. API and Exchanger and API shall instruct Closing Agent to prepare an instrument transferring legal title directly from the Seller of the Replacement Property to Exchanger to Purchaser pursuant to or a limited liability company of which Exchanger is the sole member and consistent with and which is disregarded as an entity separate from Exchanger as provided in Treasury Regulation Section 301.7701-3(b), pursuant to Treasury Regulations Section 1.1031 (k)-1(g)(4)(iv), to avoid the duplication of transfer taxes and recording fees. Closing Agent shall also be instructed not to record such an instrument in the name of API unless directed to do so so, in writing writing, by Exchanger API and APIExchanger.