A 1031 exchange (named for the IRS code section) allows owners of investment or business real estate to defer capital gains tax by rolling the proceeds of a sale into a like-kind replacement property. The rules are strict: you generally must identify replacement property within 45 days and close within 180 days, and the funds must be held by a qualified intermediary — not by you — to preserve the tax deferral. Title and escrow companies handle the closings on both the sold and purchased properties and coordinate with your intermediary and tax advisor. We don’t give tax advice, but we’re experienced in closing exchange transactions correctly and on schedule.