The rules allow you to identify 3 (there are some exceptions to that limit)
potential replacement properties within the 45 - day window, but here's the catch — one of those identified properties must be the one that you close on.
The IRS allows 45 days after selling the primary property to identify
the a potential replacement property and 180 days for the transfer to complete.
Again, these issues should be carefully considered before the expiration of the 45 day identification period expires e.g., before the property is identified as
a potential replacement property).
• 45 days from the date you sell to identify
potential replacement property and notify the seller of the replacement property or your intermediary • 180 days after the sale to complete the acquisition of the replacement property
From the time of closing on the relinquished property, the investor has 45 days to nominate
a potential replacement property and a total of 180 days from closing to acquire the replacement property.
Oh and one more kicker... once you sell the subject property you have 45 days to create a list that identifies
all potential replacement properties, but more on that in a bit.
The first limit is that you have 45 days from the date you sell the relinquished property to identify
potential replacement properties.
Post closing of the first property, the Exchangor has 45 calendar days to identify to either the accommodator or the closing entity the addresses of
the potential replacement properties.
Identifying
the potential replacement property by the 45th calendar day is one of the rules required for each 1031 exchange, unless the replacement property is acquired within the first forty five days post-relinquished property closing.
From the time the relinquished property closes, the exchangor has 45 days to identify
potential replacement properties and 180 days to acquire a replacement property.