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The time requirements in a tax deferred exchange
are very specific. From closing on the sale of the relinquished
(sale) property, an Exchanger must:
- Properly identify potential replacement properties within
45 calendar days (the"Identification Period")
and
- Close on the replacement properties within 180 calendar days
of the relinquished property sale - OR - the due date (including
extensions) for the Exchanger's tax return for the taxable year
in which the reliquished property was tranferred, whichever
is earlier (the "Exchange Period")
Without taking into consideration an Exchanger's potential tax filing
date restriction and based upon the closing date submitted, the
45-day Identification Period and 180-day Exchange Period deadlines
are shown below:
OREXCO expressly disclaims any responsibility for any failure to
comply with the time limitations for identifying replacement property
contained in IRC Section 1031(a) (3) and in Treasury Regulations
Section 1.1031. It is the sole responsibility of each Exchanger
to make such identification in a timely manner and to verify the
accurancy any time deadlines. |
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