What are my timeline requirements if I am executing a 1031 tax deferred exchange?
An investor executing a 1031 tax deferred exchange is allowed, under law, to identify a like-kind real property replacement (the upleg) within 45 days of the date of sale of the downleg property . An exchanger has 180 days from the close of the downleg property to complete the purchase of the upleg and this includes the 45 day period for identification. The identification period terminates at midnight on the 45th calendar day following the downleg close date (Sundays and holidays included).
