New Construction as 1031 Replacement Property? - Posted by Tony S in FL

import · May 23, 2003, 4:43pm

Posted by Tony S. in FL on May 23, 2003 at 19:28:15:

>>…the exchange property must be closed and funded within the 180-day replacement period…<<

Thanks for the reply.

import · May 23, 2003, 4:43pm

New Construction as 1031 Replacement Property? - Posted by Tony S in FL

Posted by Tony S in FL on May 23, 2003 at 16:43:46:

How is a 1031 exchange into new construction (single-family home) handled?

Does the construction have to be finished within the IRS specified time period (Certificate of Occupancy issued)?

Or will they accept the date of the contract being signed with the builder?

Or is it something else?

Tony S. in Florida

import · May 23, 2003, 7:17pm

Re: New Construction as 1031 Replacement Property? - Posted by Diane (TX)

Posted by Diane (TX) on May 23, 2003 at 19:17:49:

You can identify construction in progress as exchange property within the 45-day identification period. However, the exchange property must be closed and funded within the 180-day replacement period. If you want to close before construction is finished, I think you could do it, but probably not a good idea.