The 45 and 180 Day Rules: What Every Investor Needs to Know

Two deadlines that can make or break your exchange

Every 1031 exchange runs on a strict clock. Miss either deadline and your entire exchange can be disqualified, leaving you fully exposed to capital gains tax. Understanding these two windows is the first step to a successful exchange.

The 45 day identification period

From the day your relinquished property closes, you have 45 calendar days to formally identify potential replacement properties in writing to your qualified intermediary. There is no extension for weekends or holidays, and identification rules limit how many properties you can list.

• The Three Property Rule: identify up to three properties regardless of value
• The 200% Rule: identify any number of properties, as long as their combined value does not exceed 200% of what you sold
• The 95% Rule: identify unlimited properties, but you must acquire 95% of their combined value

The 180 day exchange period

You then have 180 calendar days from the sale of your relinquished property, not from identification, to close on one or more of your identified replacement properties. This period runs concurrently with the 45 day window, not after it.

Why working with an experienced intermediary matters

Timelines can be tight, especially in competitive markets. Our team tracks every deadline on your behalf, keeps your funds securely held in a qualified escrow account, and coordinates directly with your closing agents so nothing slips through the cracks.

Ready to start the clock the right way?

Reach out to our team before your sale closes so we can set up your exchange account and get your deadlines locked in from day one.