1031 Exchange Myth #7 - 1031 Exchanges Must Be Simultaneous.
A simultaneous exchange occurs when a property is relinquished (sold) at the same time the replacement property is purchased.
Simultaneous exchanges do occur but are NOT required, so this 1031 Myth is busted. In fact, sellers have up to 180 days from the sale of the relinquished property to complete the replacement property closing.
The team at Affiliated 1031 has a mission to spread the word about the benefits of 1031 Exchanges and demonstrate how simple they are to complete.