Sun Title owners advance mission to protect real estate transactions with launch of National 1031.
GRAND RAPIDS, Mich., Sept. 17, 2024 /PRNewswire/ — Tom Cronkright and Lawrence Duthler are excited to announce the launch of National 1031, a full-service 1031 exchange company designed to help property investors and companies leverage the tax deferral benefits provided under United States Tax Code Section 1031. This new venture stands out for its commitment to security and funds protection, ensuring that clients’ transactions are not only efficient but also secure.
The company specializes in facilitating 1031 exchanges, allowing investors to defer capital gains taxes on the sale of an investment property by reinvesting the proceeds into a like-kind property. This strategy defers tax liability and helps investors further invest in their communities by preserving capital for reinvestment.
What sets National 1031 apart is its focus on advanced security measures. The company employs cutting-edge email filtering, endpoint detection and response (EDR), and email eavesdropping prevention tools to secure and encrypt all communications. Additionally, National 1031 utilizes CertifID, a trusted platform for validating the identity of all parties and protecting the transfer of funds, providing the highest level of security for all participants in a transaction. “These are large transactions that have become targets for scammers seeking to infiltrate communications and divert wire transfers,” said Lawrence Duthler, President of National 1031. “We’ve made significant investments in data security, encryption, and email monitoring to ensure the safe exchange of information between parties.”
The need for such robust security measures is underscored by the advancement of social engineering strategies and wire fraud losses in investment real estate transactions. National 1031’s robust technology stack is designed to detect and prevent email compromise and thwart wire fraud attempts before they start. “We will leverage CertifID to confirm the identity of all parties and validate bank account credentials and other best-in-class partners for data and email security,” said Tom Cronkright, CEO of National 1031.
The company has performed numerous successful exchange transactions since its launch a few months ago and remains committed to providing the highest levels of service and security for its customers. “The team at National 1031 expertly guided me through the complexities of the 1031 exchange process, ensuring I met all deadlines and compliance requirements. The on-staff attorneys were incredibly helpful, and their commitment to security made me feel that I was in good hands,” said Drew Born, Commercial Brokerage Associate of Re/Max of Grand Rapids.
About National 1031: National 1031 is a full-service 1031 exchange company dedicated to providing secure and efficient tax-deferred property exchange services. With a focus on advanced security measures, National 1031 ensures the protection of clients’ funds and communications. Co-founded by attorneys, licensed title producers, and real estate industry experts Tom Cronkright and Lawrence Duthler, the company is committed to providing a safe, transparent, and efficient tax-deferred transaction for all clients.
SOURCE National 1031
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Originally published at https://www.prnewswire.com/news-releases/title-industry-veterans-launch-1031-exchange-company-with-a-focus-on-security-302250456.html
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