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The 1031 Exchange Process

THERE ARE 3 BASIC STEPS IN A TYPICAL 1031 EXCHANGE

45 Days

Identify replacement
property or properties

II

Qualified Intermediary transfers funds for purchase of replacement property

45 DAY IDENTIFICATION PERIOD

The taxpayer must identify potential replacement property or properties within 45 days from the date of sale.

180 DAY EXCHANGE PERIOD

The taxpayer must acquire the replacement property or properties within 180 days.

*Closing on the replacement property must be the earlier of either 180 calendar days, after closing on the sale of the relinquished property of the due date, for filing the tax return for the year in which the relinquished property was sold; unless an automatic filing-extension has been obtained

I

Exchanger sells property and proceeds are escrowed with a Qualified Intermediary

Close

180 Days*

EXCHANGE
COMPLETE

III

Intermediary completes exchange by acquiring replacement property or properties

The 1031 Exchange Process

THERE ARE 3 BASIC STEPS IN A TYPICAL 1031 EXCHANGE

I

Exchanger sells property and proceeds are escrowed with a Qualified Intermediary

45 Days

Identify replacement
property or properties

II

Qualified Intermediary transfers funds for purchase of replacement property

Close

180 Days*

EXCHANGE
COMPLETE

III

Intermediary completes exchange by acquiring replacement property or properties

45 DAY IDENTIFICATION PERIOD

The taxpayer must identify potential replacement property or properties within 45 days from the date of sale.

180 DAY EXCHANGE PERIOD

The taxpayer must acquire the replacement property or properties within 180 days.

*Closing on the replacement property must be the earlier of either 180 calendar days, after closing on the sale of the relinquished property of the due date, for filing the tax return for the year in which the relinquished property was sold; unless an automatic filing-extension has been obtained

We were very thankful to have you guys advising and working with us on our 1031 exchange transaction. This was a very complicated matter, comprised of multiple entities and transactions with more than $59 million in 1031 exchange sales proceeds for investment in more than a dozen DST investments all over the country. Your advice and your responsiveness were above and beyond our expectations and we would certainly avail ourselves of your service in connection with our future real estate needs.

Robert – New York City

Eric Bicknese

5

2019-05-21T13:53:38-04:00

Robert – New York City

We were very thankful to have you guys advising and working with us on our 1031 exchange transaction. This was a very complicated matter, comprised of multiple entities and transactions with more than $59 million in 1031 exchange sales proceeds for investment in more than a dozen DST investments all over the country. Your advice and your responsiveness were above and beyond our expectations and we would certainly avail ourselves of your service in connection with our future real estate needs.

https://www.ericbicknese.com/testimonials/1250/

Eric, the (sponsor) reports are so incredibly professional, transparent, and conservative. Really Impressive. You can tell they are consummate professionals. Thanks for bringing them to us.

Steve and Mike - NJ

Eric Bicknese

5

2022-04-27T21:16:24-04:00

Steve and Mike - NJ

Eric, the (sponsor) reports are so incredibly professional, transparent, and conservative. Really Impressive. You can tell they are consummate professionals. Thanks for bringing them to us.

https://www.ericbicknese.com/testimonials/steve-and-mike-nj/

“I have known and consulted Eric Bicknese for 15 years. He has identified and expedited 13 like-kind (1031) exchanges for me, advised me about other instruments in which I subsequently invested and introduced me to an exceptional long-term care plan in which I am enrolled.
I am very happy with the return on these investments, which have always been appropriate to my risk disposition as well as my portfolio, and I have absolute confidence in the advice Eric provides. He has unfailingly disclosed all aspects of an investment, prospective as well as active, anticipating any questions I might have and issues that call for careful review.
He has never 'pushed', never pressed me to consider an investment with which I was at all uncomfortable.
The fiduciary responsibility Eric exercises on my behalf is unquestionable. He's an advocate. He has my back. It's a nice feeling.”

Richard E. – Brooklyn NY

Eric Bicknese

5

2019-05-21T13:59:35-04:00

Richard E. – Brooklyn NY

“I have known and consulted Eric Bicknese for 15 years. He has identified and expedited 13 like-kind (1031) exchanges for me, advised me about other instruments in which I subsequently invested and introduced me to an exceptional long-term care plan in which I am enrolled. I am very happy with the return on these investments, which have always been appropriate to my risk disposition as well as my portfolio, and I have absolute confidence in the advice Eric provides. He has unfailingly disclosed all aspects of an investment, prospective as well as active, anticipating any questions I might have and issues that call for careful review. He has never 'pushed', never pressed me to consider an investment with which I was at all uncomfortable. The fiduciary responsibility Eric exercises on my behalf is unquestionable. He's an advocate. He has my back. It's a nice feeling.”

https://www.ericbicknese.com/testimonials/richard-e-brooklyn-ny/

I was not looking forward to the complications associated with doing a 1031 Exchange, until I met Eric Bicknese. Eric swiftly met with me, clearly explained the process and asked me what my goal was. Within days he gave me several options, explained the return I could expect and the purchases were completed. His competence, accessibility, and reliability made the process easy and productive.

Grace L. - New York City

Eric Bicknese

5

2019-05-21T19:29:15-04:00

Grace L. - New York City

I was not looking forward to the complications associated with doing a 1031 Exchange, until I met Eric Bicknese. Eric swiftly met with me, clearly explained the process and asked me what my goal was. Within days he gave me several options, explained the return I could expect and the purchases were completed. His competence, accessibility, and reliability made the process easy and productive.

https://www.ericbicknese.com/testimonials/grace-l-new-york-city/

5

4

Eric Bicknese

The experience of the clients listed above may not represent the experience of other customers and is no guarantee of future performance or success.

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CPAs and Attorneys alike, have long counted on the trusted advice and experience of Eric Bicknese, an Investment Advisor Representative and licensed real estate agent, who has made DST property consulting the hallmark of this practice.

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