Parameters Interested in Structuring a 1031 Exchange Property Sold: Upleg Needed Deadline Protection 1031 Exchange   Defer capital gains taxes when selling an investment property. Exchange proceeds from the sale of property, using to purchase a new investment. Required to identify replacement property within 45 days from the date of closing relinquished property; required to complete purchase of upleg property within 180 days.       Simultaneous Exchange   The sale property and the replacement property are transferred concurrently.       Reverse Exchange   Purchase replacement property first, then sell the relinquished property. Required to sell relinquished property within 45 days from the date of closing the purchased property; required to complete the sale within 180 days.       Property Improvements   As part of an Exchange, sale proceeds can be used to fund repairs or structural improvements to the replacement property.