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.
"These are large transactions that have
become targets for scammers seeking to divert wire
transfers."
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/title-industry-veterans-launch-1031-exchange-company-with-a-focus-on-security-302250456.html
SOURCE National 1031