Saturday, May 5, 2007

Flexible 1031 Exchange Intermediaries

Can you get away with a closing on an exchange past 180 days? NO. That is not a debate. Can you fudge the 45 day rule? Some do and some get away with it. Don't expect your national exchange company to do it. By the way, this is illegal. And just fixing that document does not put you in the clear. Do purchase contracts have dates on them? Do lender docs have dates? This is a very risky strategy that I cannot stand behind. It's best to be very clear on what is available to replace your property with before your 45 days is anywhere near up.

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