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What is a reverse 1031 exchange?

What is a reverse 1031 exchange?

In a reverse 1031 exchange, a property owner acquires an asset (replacement property) first, after which a period of 45 days is given to choose what asset (relinquished property) will be sold. An additional 135 days is given to complete the sale of the relinquished property. Upon the close of escrow, the property owner can pay themself back for the acquisition, or pay off the loan used to acquire the replacement property prior to the selling of the relinquished property.

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