Posted by JHyre in Ohio on January 17, 2003 at 06:59:18:
The cost of septic can be included in the replacement property if its ID’ed (simply as septic to be built), is installed before the 180 days are up and before you actually acquire the property. This will obviously require seller cooperation.
John Hyre
1031- define “identify”, Bill Clinton… - Posted by George
Posted by George on January 17, 2003 at 02:50:28:
John;
I just sold a condo and had the proceeds held for a possible 1031 exchange. I am identifying, within 45 days, a couple vacant lots zoned for mobile homes to replace the condo. My plan is to install septics etc and mobiles asap after the lots close and was hoping to include the cost of these as part of the replacement property in order to use up all the funds held by the accommodator.
If this is possible, what time frames should I watch out for?
Thanks, George (AZ)