Finance
What are the key time requirements in a Delaware 1031 exchange?
AIdentify replacement within 30 days; close within 90 days
BIdentify replacement property within 45 days of sale; close on replacement within 180 days of sale✓ Correct
CIdentify and close on replacement within 60 days of sale
DIdentify within 60 days; close within 270 days
Explanation
In a standard 1031 exchange, the investor must identify potential replacement properties within 45 days of closing the relinquished property and complete the acquisition of the replacement property within 180 days of closing.
Related Delaware Finance Questions
- A wraparound mortgage involves:
- What is the 'index' in an adjustable-rate mortgage (ARM)?
- Which of the following is NOT a factor considered by mortgage underwriters when evaluating a loan application in Delaware?
- Which type of mortgage loan is insured by the Federal Housing Administration?
- What does 'PMI cancellation' require under the Homeowners Protection Act?
- A VA loan is available to eligible veterans and is unique because it:
- What is the primary purpose of RESPA?
- In Delaware, a deed of trust differs from a mortgage primarily because:
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →