The relinquished property closes.
Within 45 days of the relinquished property closing date, the replacement property options must be identified to comply with IRS regulations.
The acquisition of replacement property must conclude within 180 days of the relinquished property closing date to fulfill IRS requirements.
If you are performing a 1031 exchange, and your 45-day or 180-day deadline coincides with a weekend or a federal holiday, there’s no extension until the next business day.
To ensure the validity of your 1031 exchange, make sure to complete the task on or before the date of business closure, whether caused by a weekend or a federal holiday.
