​When your sale closes, your net proceeds are delivered to a dedicated escrow account maintained by Alabama 1031 Property Exchange within the Trust Department of Hancock Whitney Bank in Mobile, Alabama. Unlike a standard bank account, funds held within a trust department are not carried on the bank's balance sheet and are not subject to the claims of the bank's general creditors, providing an additional layer of protection that goes beyond what most qualified intermediary firms offer. Trust officers at Hancock Whitney Bank assist with wires into and out of the escrow account such that every transaction is processed with the care your exchange proceeds deserve. 

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Pursuant to our Deferred Exchange Agreement, the escrow account is structured in full compliance with the restrictions required under section 1031 regulations, meaning your funds cannot be accessed, pledged, or borrowed against during the exchange period. Your proceeds are held solely for the purpose of completing your exchange, and are released only upon acquisition of replacement property, at the end of the identification period if no property has been identified, or at the end of the exchange period.

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Alabama 1031 has maintained its relationship with the Trust Department of Hancock Whitney Bank for many years and has been consistently pleased with the level of service and security it provides to our clients.

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