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In an "exchange last" method RES, acting as the Exchange Accomodation Titleholder (EAT), purchases the Replacement Property and parks it until the Exchanger can sell the relinquished property. RES then transfers (through the QI) the Replacement Property to the Exchanger for an amount equal to the price paid by RES plus costs incurred in acquiring and maintaining ownership of the Replacement Property during the parking period.
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