### Question
What is the definition of exchange facilitator?


### Answer
The definition of **exchange facilitator** is as follows in *12 U.S.C. § 5603*:

> a person that—


(1) facilitates, for a fee, an exchange of like kind property by entering into an agreement with a taxpayer by which the exchange facilitator acquires from the taxpayer the contractual rights to sell the taxpayer's relinquished property and transfers a replacement property to the taxpayer as a qualified intermediary (within the meaning of Treasury Regulations section 1.1031(k)–1(g)(4)) or enters into an agreement with the taxpayer to take title to a property as an exchange accommodation titleholder (within the meaning of Revenue Procedure 2000–37) or enters into an agreement with a taxpayer to act as a qualified trustee or qualified escrow holder (within the meaning of Treasury Regulations section 1.1031(k)–1(g)(3))

#### Citation:
  - *12 U.S.C. § 5603*
  - Heading: **CHAPTER 53-WALL STREET REFORM AND CONSUMER PROTECTION > SUBCHAPTER V-BUREAU OF CONSUMER FINANCIAL PROTECTION > Part G-Regulatory Improvements**

