Image 1 of 1
Image 1 of 1
Image 1 of 1
Image 1 of 1
A Forward Exchange is the most typical type of 1031 Tax Deferred Exchange. This type of exchange involves the sale of an investment property (relinquished property) prior to the acquisition of another. The property is listed and upon the sale, the proceeds are held in an escrow account with a Qualified Intermediary. You then have 45 days to identify a like-kind replacement property or properties (replacement property) that need to be documented before this deadline has passed. Within 180 days, a closing must occur on one or more of these properties and the Qualified Intermediary wires the funds from the escrow account to the title/settlement company.
A Forward Exchange is the most typical type of 1031 Tax Deferred Exchange. This type of exchange involves the sale of an investment property (relinquished property) prior to the acquisition of another. The property is listed and upon the sale, the proceeds are held in an escrow account with a Qualified Intermediary. You then have 45 days to identify a like-kind replacement property or properties (replacement property) that need to be documented before this deadline has passed. Within 180 days, a closing must occur on one or more of these properties and the Qualified Intermediary wires the funds from the escrow account to the title/settlement company.