All Forum Posts by: Sarah Thornton

Dave, thank you for your super helpful answer! :)

Thanks, Alex! I'll let you know. 

Awesome, Bill. thanks so much for your helpful reply! :)

OK, thank you! Do you know anything about a penalty for not executing on a 1031?

Hello, 

I'm new here and have one burning question I have not yet found the answer to. 

My husband and I are looking to sell an investment property and buy another one w/ the proceeds. I understand that the new property needs to be identified within 45 days and fully executed by 180-days of sale of the initial property. 

My question is 1) how strict is the "identifying" period? Is it easy to change course?

And 2) If you opt for the exchange and then for whatever reason are unable to complete it, is there a penalty aside from whatever capital gains, etc. you would have paid selling outright without the exchange?

Many thanks in advance for the help!