Taxation
1031 Exchange Timelines
A concise definition for the California Real Estate Exam study guide.
Definition
For a qualifying like-kind exchange, replacement property is generally identified within 45 days and acquired within 180 days. A qualified intermediary holds the exchange funds so the taxpayer does not receive them.
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 14: Taxation, Licensing & DRE Regulation →