CAN MY ATTORNEY OR REAL ESTATE AGENT HOLD THE PROCEEDS IN ESCROW FROM THE SALE OF MY RELINQUISHED PROPERTY--- WHILE I AWAIT THE CLOSING ON THE REPLACEMENT PROPERTY?

Whew---that was a long question.  I will endeavor to answer the question in a much shorter manner.  Answer:  NOPE!!!!  The Internal Revenue Service, in its infinite wisdom, wrote a section into its Regulations, prohibiting any of the investor's agents from holding the proceeds from the sale of the relinquished property.   Who is defined as the investor's (taxpayer's) agent?  Investor's agents are defined as the taxpayer's broker, attorney, accountant, family member, friend and others who have a relationship with taxpayer.  That is why the taxpayer should deposit the proceeds with a reputable independent Qualified Intermediary, that is insured and bonded and has safeguards to protect the proceeds.  I truly love being that independent QI as you can probably discern from my blogs.