protect: A Lesson to be Learned! 1031 Exchange information- Houston Texas Real Estate - 06/11/09 12:42 PM
LandAmerica 1031 Exchange: A Lesson to be Learned
You may have heard that LandAmerica Financial Group, Inc. and its subsidiary LandAmerica 1031 Exchange Services (LES) filed for bankruptcy protection in November, 2008.  As a result, investors who had exchange accounts with LES were unable to access their funds.   Recently, the bankruptcy court issued two rulings which found that the exchange funds held by LES in either a commingled account or a separate sub-account did not belong to the individual Exchangors, but must instead be included in the bankruptcy estate.  As a result, these exchange deposits became part of the general pool of … (3 comments)

 
Kevin Heinrich (Heinrich Group) Rainmaker large

Kevin Heinrich

Clear Lake City, TX

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Heinrich Group

Address: 5827 Beaver Falls Dr., Houston, Tx, 77346

Office: (281) 488-0607

Mobile: (281) 723-1982

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Real Estate News with a Value added punch Clear Lake Texas Real Estate

I think this is a good rule to live by! "We are not put on this earth for ourselves, but are placed here for each other. If you are always there for others, then in time of need, someone will be there for you." ~ Jeff Warner

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"Winners Make it Happen, Others Let it Happen!"

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