What qualifies
Both the property you sell and the one you buy must be real property held for investment or business use, not a primary home or inventory held for resale. Check with your tax advisor whether your specific property qualifies.
Deadlines
You generally must identify replacement property within 45 days of selling and complete the purchase within 180 days. The deadlines are strict and do not extend for weekends or delays.
Qualified intermediary
The sale proceeds must be held by a qualified intermediary, never received by you directly, or the exchange fails. Choose and hire the intermediary before the first closing.
Foreign owners
Foreign investors can use 1031 exchanges in some cases, but withholding rules (FIRPTA) and tax treaties complicate the plan. Consult a US tax professional.
Next step
Plan the replacement property search before you list. Lidiya Tretyak is a licensed Florida real estate agent with Douglas Elliman and speaks English, Russian and Ukrainian; the first consultation is free.
This guide is general information, not legal or tax advice. Laws and programs change — confirm details with a Florida attorney and a US tax professional.
