Engage a Qualified Intermediary before closing - you can never receive the sale proceeds directly. After closing, you have exactly 45 days to identify up to three replacement properties in writing and 180 days to close on at least one. The replacement must be equal or greater in value and debt to achieve full deferral. Any cash or debt relief you receive is taxable. These deadlines are absolute.
From the seller playbook: 1031 Exchange Execution
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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