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Here is a fact sheet from our partners at Welton Street describing the 1031 exchange process: Cardéa - 1031 Exchange Fact Sheet
Written by DROdio on February 26th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Identification in the FIRST 45 days and All the Questions You Were Afraid To Ask About 1031s.
Our answer: Your question whether the 45 and 180 time periods are impacted when there is a natural disaster is a great one. And the answer to your question is YES the dates are impacted. Rather than restate the IRS interpretation, I want to provide you a direct link to the Internal Revenue Service web-site […]
Written by DROdio on February 17th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Identification in the FIRST 45 days.
3-property rule: You may identify any three properties as possible replacements for your relinquished property. More than 95% of exchanges use the 3-property rule.
200% rule: You may identify any number of properties as possible replacements for your relinquished property as long as the aggregate value of those properties does not exceed 200% of the value […]
Written by DROdio on January 23rd, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Identification in the FIRST 45 days and All the Questions You Were Afraid To Ask About 1031s.
dentification Period: Within 45 days of selling the relinquished property you must identify suitable replacement properties. This 45 day rule is very strict and is not extended should the 45th day fall on a Saturday, Sunday, or legal holiday.
Exchange Period: The replacement property must be received by the taxpayer within the “exchange period,” which ends […]
Written by DROdio on January 23rd, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Identification in the FIRST 45 days and All the Questions You Were Afraid To Ask About 1031s.
The IRS does not allow extensions for either the 45-day period or the 180-day period.
If the exchangor’s 45th or 180th day falls on a weekend or holiday do I get the benefit of the following business day?
No. The IRS calculates this timeline based on calendar days. There are no extensions given.
Written by James Brennan on January 20th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Settlement Q&A and Identification in the FIRST 45 days and 1031 Calc FAQs and Calc_Q1 and All the Questions You Were Afraid To Ask About 1031s.
Yes; this requires that you do a reverse exchange however. The reverse exchange ‘may’ be an option provided you have the ability to structure the reverse exchange according to the safe harbor guidelines.
Written by James Brennan on January 20th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Identification in the FIRST 45 days and Multiple-Property Exchanges and All the Questions You Were Afraid To Ask About 1031s.