1031.Exchange INTELLIGENCE NETWORK
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CORE 1031

Relinquished property

Also called: sale property · property given up · downleg

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PLAIN-ENGLISH DEFINITION

The qualifying property the taxpayer transfers or gives up in the exchange.

What it means in practice.

In a deferred exchange, the transfer of the relinquished property typically starts the federal identification and exchange clocks.

Why it matters.

The transfer date is central to the 45-day and 180-day timing analysis.

Additional notes.

In a deferred exchange, the transfer of the relinquished property typically starts the federal identification and exchange clocks.

PRIMARY / REFERENCE SOURCES

Read the source material.

irs.gov ↗irs.gov/instructions/i8824irs.gov ↗irs.gov/publications/p544
CONNECTED LANGUAGE

Related definitions.

Core 1031Replacement propertyThe property the taxpayer receives as the replacement in a Section 1031 exchange.Deadlines & Identification45-day identification periodThe federal window for identifying replacement property in a deferred exchange.Deadlines & Identification180-day exchange periodThe federal outer timing window for receiving replacement property in a deferred exchange, subject to the tax-return due-date rule.
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