The successful completion of a 1031 exchange transaction requires investors (exchangors) to comply with certain 1031 exchange deadlines pursuant to Section 1031 of the Internal Revenue Code, which have been further clarified within Section 1.1031 of the Treasury Regulations. The 1031 exchange deadlines consist of the 45 calendar day identification deadline and the 180 calendar […]
Author Archives: William “Bill” L. Exeter
Replacement Property Identification Requirements
There are very specific requirements for investors to follow when identifying and acquiring potential replacement properties through a 1031 exchange transaction. Prospective replacement properties to be identified as part of a 1031 exchange do NOT need to be under any letter of intent, contract or in escrow or settlement when identified. Deadline to Identify Replacement […]
The Same Taxpayer Requirement
Download PDF version In a 1031 exchange transaction, it is often said that legal title to the real estate being sold (i.e., the relinquished property) and the real estate being purchased (i.e., the replacement property) must be held or owned under the exact same legal title. This is a common misconception and is not accurate. […]
Qualified Intermediaries Are Not Created Equal
Download full PDF here One of the common misconceptions is that 1031 exchange qualified intermediaries, also known as accommodators or facilitators, are all the same. However, qualified intermediaries are not created equal, and the differences are significant. Did you know the 1031 exchange qualified intermediary industry has no licensing body or regulatory authority to provide […]
