NONSIMULTANEOUS NONTAXABLE EXCHANGE
01.Core Concepts
• The proceeds from the sale of the original property must be held by an escrow agent (the proceeds may not be received by the property owner wishing to engage in the 1031 exchange). • A replacement property must be identified within 45 days of the sale of the original property. • The closing on the replacement property must take place by the earlier of (1) 180 days from the sale of the original property, or (2) the due date (including extensions) of the tax return for the year the original property was sold.