Cecily A. Drucker, JD
President of CRM, has been practicing transactional real estate law, tax law, and commercial law for over 26 years. She is the author of the seminal article "Reverse Tax-Deferred Exchanges" (1989 Cal. Real Property Law Rptr., Vol. XII, No. 8), and provides advice on tax-deferred exchanges to individual and institutional clients. She is the owner of Pacific Capital Applications, Inc., a national qualified intermediary.

Max A. Hansen, JD
Executive Vice-President, has been practicing transactional real estate and commercial law since 1976. He is the owner of American Equity Exchange, Inc., a nationwide qualified intermediary company. He provides advice on tax-deferred exchanges, and has particular expertise in exchanges of agricultural property and aircraft. He is the President of the Federation of Exchange Accommodators (F.E.A.) as well as past president of the State Bar of Montana and currently a delegate to the ABA House of Delegates. He is also a member of the ABA Tax Section.

Ralph B. Bunje, Jr., CPA, MBA, MS
Vice President and Secretary of CRM, is also the President of Independent Exchange Services, Inc., a nationwide qualified intermediary company. He has been advising clients on Section 1031 exchange matters since 1978, and is currently a partner in Bunje Buss & Lloyd, a financial and real estate consulting firm. He is the past President of the Federation of Exchange Accommodators (F.E.A.), and was formerly a CPA with Deloitte & Touche prior to co-founding Bunje Buss & Lloyd in 1978.

Louis S. Weller, JD (Special Advisor)
Principal, Real Estate Tax Services, Deloitte & Touche, is special advisor to RES. He is one of the principal architects of the IRS Safe Harbor guidelines.