This is the
standard transaction where your property is sold and the
proceeds are reinvested in a new piece of property. For more
details about the transaction see our
and related exchange agreement.
Within 45 days of the sale, you
must identify the potential replacement properties to us. Your
identification must be in writing and must clearly describe the
properties. You may identify up to three properties within the
rules, but if you need to identify additional properties please
call us and we’ll explain the two exceptions (the 200% rule and
the 95% rule).
You must acquire one or more of the identified properties within
180 days of the sale. In the event that the 180 day period
starts in one tax year and ends in another, we recommend that
you request a filing extension for your federal income tax
return since replacement property must be acquired prior to the
due date for your return.
If you need
help with a forward exchange, please call us at 956-546-1031, or