Although Florida Exchange is used as your qualified intermediary in a deferred exchange transaction, the conveyance of real property will be directly by deed, from the exchanger to the buyer of the property being relinquished, and from the seller to the exchanger for each replacement property.  This is known as "direct deeding" and is available under the safe harbor.

In many jurisdictions, including Florida, the ability to direct deed property and thereby eliminate a deed into the qualified intermediary, saves the taxpayer additional state and local transfer taxes.