45 day deadline: 45 Day Identification Issues
- 05/14/07 05:34 AM
I just had a conversation with a client that purchased a replacement property before the passing of the 45 day identification deadline. It is very important to remember that the purchased property is also a properly identified replacement property; and is factored in the application of both the 200% and 95% rules. Both the Exchanger and the Qualified Intermediary can get burned if this issue is not addressed correctly. Always be on guard when it comes to identification issues! … (2 comments)
I just had a conversation with a client that purchased a replacement property before the passing of the 45 day identification deadline. It is very important to remember that the purchased property is also a properly identified replacement property; and is factored in the application of both the 200% and 95% rules.;)
;)
