# 1031 Exchange Requirements | Rules, Timelines & QI Guide

Understand all 1031 Exchange requirements including like-kind property rules, financial requirements, 45 & 180-day timelines, and Qualified Intermediary basics.

## Exchange Requirements


Understanding the requirements of a 1031 Exchange is important. From defining "like-kind" to outlining the financial requirements and timeframes, we take our role as your Qualified Intermediary seriously. 

## Like Kind


The 1031 Exchange process allows taxpayers to exchange “like-kind” property. For many, the definition can be confusing when it is rather simple.

## Financial Requirements


To meet the financial requirement of the 1031 Exchange to limit your realized gain, you must follow the following steps.

## Timeframes for a 1031 Exchange


There are two timeframes to be aware of; the 45 day identification period and the 180 day exchange period.

## Qualified Intermediary (QI)


A Qualified Intermediary (QI) is required to facilitate the exchange properties under Section 1031 of the Internal Revenue Code. A QI like Security 1st Exchange will assist in simplifying the process.