What rules do I have to follow in order to receive a full tax deferral benefit?

In order to fully defer all capital gains taxes through a 1031 exchange, the following stipulations must be met:

“Like-Kind” Property –  The exchange must consist of a relinquished property and replacement property or properties which are of like-kind in nature.

45 day and 180 day Periods –  All specified deadlines must be met.

The Napkin Rule – The value of the replacement property or the sum value of the replacement properties must be of equal or greater value than the value of the relinquished property

All Proceeds Rule – All proceeds from the sale of the relinquished property must be used in the purchase of a replacement property to qualify for a full tax deferral.