Exchange Types

Simultaneous Exchange:

Total time allotted to acquire the Replacement Property. Must be one of the properties designated in the Identification period.

Delayed Exchange:

Defined as a transaction wherein the sale occurs previous to the acquisition. Within 45 days from the close of the relinquished property, a “like-kind” replacement property must be identified, and the close of escrow on the replacement property must take place by the 180th day.

Reverse Exchange:

Acquisition of the Replacement Property before the Relinquished Property is sold.

Improvement (or Construction) Exchange:

Proceeds from the Relinquished Property are used to purchase Replacement Property. The Intermediary then retains ownership of Replacement Property until improvements/construction conclude or excess proceeds are exhausted. Upon completion, Intermediary transfers ownership of Replacement Property to Exchanger.