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IDENTIFICATIONS ON A SECTION 1031 EXCHANGE
By admin | June 18, 2009
Blog1031.com: IDENTIFICATIONS ON A SECTION 1031 EXCHANGE
IDENTIFICATIONS ON A SECTION 1031 EXCHANGE
One of our prospective clients asked a provoking question. After he closes on the sale of his relinquished property in a Section 1031 exchange, he understands that he only has 45 days to identify what he would like to purchase as his replacement property(ies). He read in our blog, that the 45 day identification period has no extensions (there are extensions, but only when given by the President of the United States, generally for those affected by disasters). What he wanted to know was could he fudge the date, in other words, could he give us an identification statement after the 45 days period had expired, but date it prior to the 45 day deadline?
Topics: REAL ESTATE FRAUD |
