45-day replacement property identification form
Within 45 days of your sale, you must identify your replacement property in writing. Download our free fillable form, with the rules explained in plain English on page 2.
Fill it in, sign it, and get it to us by day 45.
Fill in the form
Type into the PDF or print it. List each property by street address, legal description or parcel number, and choose the identification rule you're using.
Every exchanger signs
If the property you sold was owned by two people or an entity, everyone on the exchange agreement signs.
Send it before the deadline
Email the signed form to Start@Precision1031.com no later than midnight on day 45, then call (310) 498-4883 to confirm we received it.
Download PDF
Three ways to identify replacement property.
Pick one rule and follow it exactly. If you identify more than it allows, the IRS treats it as if you identified nothing, except property you have already acquired.
Three-property rule
Identify up to three properties of any value. This works for most exchanges: a first choice and two backups.
200% rule
Identify any number of properties, as long as their total value is no more than 200% of the value of the property you sold.
95% rule
Identify any number and value, but only if you actually acquire at least 95% of the total value you identified. Rarely practical; talk to us first.
Identification, answered.
Want us to review your list before you sign? Call (310) 498-4883.
When is day 45?
Day 0 is the day your sale closes. Count 45 calendar days from there. Weekends and holidays count, and the deadline doesn't move if it lands on one. Our deadline calculator shows the exact date.
How specific does the description need to be?
Specific enough that there's no doubt which property you mean: a street address with city and state, a legal description, or the assessor parcel number. "A duplex on Main Street" doesn't count. For a DST or tenancy-in-common interest, name the offering and the property, and state the share you intend to buy.
Who do I send it to?
To us, as your qualified intermediary. Sending it only to your real estate agent, attorney or a seller doesn't satisfy the rule.
Can I change my list?
Yes, but only in a signed writing that we receive before the day 45 deadline. After day 45, your list is final.
What if I close on a property before day 45?
Property you acquire by day 45 counts as identified, even if it isn't on a form.
What if the property is being built or improved?
Describe the improvements as specifically as you can now, such as plans, specifications and budget. Only what is built by the time you receive the property counts toward your exchange.
Do I still have 180 days to close?
You must close by the earlier of day 180 or the due date of your tax return for the year of the sale, including extensions. If your return is due first, file an extension.
Is this form tax or legal advice?
No. It's a convenience for our clients and their advisors. Your CPA or attorney can tell you how the rules apply to your exchange.
Let's start your 1031 exchange today.
As long as your sale hasn't closed, we can open your exchange today. Call, or tell us about your sale and a specialist will be in touch the same business day.