1031 Exchange Rules

• Property must be like-kind real estate
• Real estate must be used for investment or business, and not be considered stock in trade or personal property
• Property replaced must be of equal or greater value to the property being relinquished
• Boot must not be received by the seller
• Title of the relinquished property and the replacement property must be in the same taxpayer name
• Replacement property must be identified within 45 days of closing on the sale of the relinquished property
• Replacement property must be purchased within 180 days of closing on the sale of the relinquished property.