1031 Exchange Time Periods
The 45-Day Identification Period begins with the closing of the relinquished property and requires the identification of like-kind replacement property. The identification must be made in writing and signed by all Exchangers.
The 180-Day Exchange Period* runs concurrently with the 45-Day Identification Period and requires the acquisition of all desired identified replacement properties. The Taxpayer must actually take legal and equitable ownership of the replacement property on or before the 180th day.
