What are the rules of a 1031 Exchange?

What are the rules of a 1031 Exchange?

Sellers have 45 days to identify their replacement property after a sale, and 180 days after the sale to close, if they are to qualify for a like-kind exchange under Section 1031.

However, a third-party qualified intermediary (QI) should hold the sales proceeds in escrow in between these two events.

“Reverse” exchanges, in which the new property is purchased before the sale of the old one, are also possible, but they require special handling to comply with IRS guidance.

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2018-07-27T18:47:33+00:00 January 22nd, 2018|