Time Requirements in a Tax Deferred Exchange
Identification Period: You have 45 days from the close of your sale of Relinquished Property (the old property) to provide a dated, and signed list of potential Replacement Property (new property) -- unless all Replacement Property is purchased prior to the 45th day. The QI should provide thorough, specific written and verbal assistance regarding identification guidelines early in the Identification Period.
If you are reading about Identification and Exchange Time Requirements, you should also be shopping for Replacement Property.
Exchange Period: Within 180 days of closing the sale of Relinquished Property your exchange must be completed, i.e. all Replacement Property is purchased.
If you are reading about Exchange Time Requirements you should also be shopping for Replacement Property. Once Relinquished Property is listed for sale, or even as you consider selling, look for new properties. This is valuable extra time for you.