180-Day Exchange Period
The 180-day exchange period is the deadline in a 1031 exchange by which the investor must close on replacement property, 180 calendar days from the sale.
Definition
The 180-day exchange period is the second hard deadline in a 1031 exchange. Counting from the day the relinquished property closes, the investor has exactly 180 calendar days to complete the purchase of the replacement property identified during the 45-day window.
The 45-day and 180-day clocks run concurrently, not consecutively, so identifying property on day 44 leaves only 136 days to close. The deadline includes weekends and holidays with no extensions, except in certain federally declared disaster situations.
There is also a wrinkle: the period ends on the earlier of 180 days or the due date, including extensions, of the investor's tax return for the year the relinquished property was sold. Investors closing late in the year often file an extension to preserve the full 180 days. DSTs are popular because they can typically close quickly, reducing the risk of blowing the deadline.
Key points
- 180 calendar days from the relinquished sale to close
- Runs concurrently with the 45-day identification period
- No weekend or holiday extensions in normal circumstances
- Can be cut short by the tax return due date without an extension
Related terms
Jerry Baker founded Baker 1031 Investments to help exchange investors move from active property ownership into passive, institutional-quality real estate through DST, 721 exchange, mineral royalty, and Opportunity Zone strategies. He holds the FINRA Series 22 and Series 63 registrations and the Securities Industry Essentials (SIE) qualification. Read full bio →
Reviewed by the Aurora Securities, Inc. compliance team — Aurora Securities, Inc., member FINRA/SIPC. Last reviewed July 2026. Securities are offered through Aurora Securities, Inc.; Baker 1031 Investments, LLC is independent of Aurora Securities, Inc.
This glossary entry is educational and is not investment, tax, or legal advice, or an offer to sell or a solicitation to buy any security. Definitions are general and may not reflect your specific circumstances — consult your own CPA and attorney. Past performance does not guarantee future results.