You have 45 days. The clock does not stop.
From the day your relinquished property closes, you have 45 calendar days to identify your replacement property in writing. Weekends and holidays count.
The 45-day identification rule
Calendar days, not business days
Day 45 is day 45. There is no extension for a holiday, a lender delay, or a seller who goes quiet.
Identification has to be in writing
It must be signed, delivered to the right party, and describe the property unambiguously — a street address or legal description, not a general idea.
Most investors identify more than one
The three-property rule, the 200% rule and the 95% rule each give you a way to name backups. Picking the right one matters.
Three steps, and we carry most of them
Call before you close
We confirm an exchange fits, map the deadlines against your timeline, and put the exchange agreement in place before the sale closes.
We hold the proceeds
Funds go from the closing table to us, never to you. That is what keeps the deferral intact.
You buy, we close it out
You identify and negotiate the replacement property. We handle the documentation, the funding and the reporting trail.
1031 Specialists
The single most common way an exchange fails is a missed or sloppy identification. Investors either run out of days looking for the right property, or they identify something in a way that does not hold up. Both are avoidable with a plan made before the first property closes.
We are a qualified intermediary for IRC Section 1031 tax-deferred exchanges, facilitating exchanges for real estate investors in all fifty states. We handle the exchange agreement, the identification and closing deadlines, and the custody of exchange funds. Every exchange includes unlimited tax optimization consulting, audit protection and an attorney guarantee, on a simple flat fee you pay at close.
The 45-day identification rule, answered
When exactly does the 45 days start?
The day your relinquished property closes is day zero. Day 45 is 45 calendar days later, including weekends and holidays.
Can I change my identification after I submit it?
You can revoke and re-identify in writing at any point before the 45 days expire. Once day 45 passes the list is fixed.
What if none of my identified properties work out?
Then the exchange fails and the gain is taxable. This is exactly why identifying realistic backups, not aspirational ones, matters so much.
Talk to someone before the clock starts
Reach me directly, or call the main line and ask for anyone on the exchange team.
Main line
(631) 438-1031General email
info@1031specialists.comMailing address
30262 Crown Valley Pkwy, Suite B 464Laguna Niguel, CA 92677
The information on this page is general in nature and is not tax or legal advice. 1031 Specialists is a qualified intermediary, not a law firm, accounting firm or investment adviser. Consult your own tax and legal advisors about your circumstances before entering into an exchange.