1031 exchange · replacement property
You have 45 days to identify. Most people start looking on day 20.
The clocks are statutory. They start the day your relinquished property closes, they run at the same time rather than one after the other, and they do not move for a deal that falls apart in diligence or a lender who is slow. By the time most sellers call a broker, a third of the identification window is gone.
The free guide below covers what the statute actually says, the three identification rules, and the boot maths that decides whether you defer everything or write a cheque anyway. Then the planner runs it on your own numbers.
Replacing value is not enough
You have to replace the debt too. Buy at the same price with less leverage and you have mortgage boot, taxable, even though you spent every dollar of proceeds.
New cash only helps if you spend it
Money you bring to the closing offsets debt relief only to the extent you actually deploy it. Cash left sitting does not fix it. This one catches experienced investors.
The deadline is not a buying strategy
A weak asset bought on day 44 is a worse outcome than paying the tax. Deferral is not a reason to accept short lease term or thin credit.
We are not your Qualified Intermediary
A QI is legally required and must be engaged before your sale closes. We represent you on the buy side. Those are different jobs, and we will tell you plainly where ours stops.
Exclusive representation, and why our fee is capped
We look to the seller for our commission. Where the sell side pays the full market rate, you owe us nothing at all. Where it falls short, you cover the gap up to a hard cap and we absorb the rest.
That is the point of the cap. Our fee ends up close to constant across deals, so we have no reason to steer you toward whichever one pays us best. The only thing left worth optimising is whether the deal is right for you.
Are you already in an exchange?
It changes the advice completely, so it is worth a second.
Everything here is general education about how section 1031 works. It is not tax advice, legal advice, or a recommendation about any specific transaction. Exchange outcomes depend on facts specific to you and your entity. Engage a qualified tax adviser and a Qualified Intermediary before acting. Garner Shiebler Group is a retail and net lease investment sales team, not a Qualified Intermediary, a tax adviser or a law firm.