Sentences with «purchase of the replacement property»
At closing, the proceeds were placed in escrow for the potential purchase of a replacement property under a Section 1031 like - kind exchange although Griffin has not yet identified a replacement property. (nreionline.com)
The primary 1031 exchange rules and requirements include: 1) same taxpayer: the taxpayer who sells is the taxpayer who buys, 2) property identification within 45 calendar days post closing of the first property, 3) purchase of the replacement property within 180 calendar days, 4) trading up: the price of the replacement property is equal to or greater than the old or relinquished property, 5) hold time supports the intent to hold for investment, and 6) related party transaction regulations. (atlas1031.com)
In a Reverse 1031 Exchange requiring financing for the purchase of the Replacement Property, the Exchange First will be utilized. (havenexchange.com)