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Key Requirements
PROPERTY TYPE
Likeākind property: Both the relinquished and replacement properties must be held for investment or business use.
STRICT TIMELINES
45
Days to identify potential replacement properties
180
Days to complete the purchase
PROCEDURE
Use of a Qualified Intermediary (QI): You cannot receive or control the sale proceeds directly.
VALUE MATCHING
Equal or greater value: To fully defer taxes, the replacement property must be of equal or higher value, and all equity must be reinvested.
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