In honor of Memorial Day, Northern Bank branches and the Contact Center will be closed on Monday, May 27. As always, mobile banking, online banking and our ATM network are available to you 24/7.

December 3, 2021

VP Michele Fitzpatrick joins PropLogix podcast

1031 Exchange

In June 2021, Northern 1031 Exchange Vice President, Michele Fitzpatrick, spoke with Amanda Farrell of PropLogix. Fitzpatrick discussed the 1031 Exchange process and how title agents can assist their clients through the transaction.

She also answered concerns such as:

• Who can act as a Qualified Intermediary?

• How do title issues impact a 1031 Exchange?

• How to identify a client who could benefit from a 1031 Exchange.

The tax deferral program encourages more real estate transactions and creates a positive domino effect of economic growth for various industries including the title insurance industry. However, proposed tax changes and a ramification of a possible repeal of 1031 Exchange are on the table and still undecided. In this podcast, Fitzpatrick discusses the effect these changes could have on investors and steps that can be taken to help preserve 1031 Exchange.

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About Northern Bank & Trust Company

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $2.87 billion with 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.

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