1031 exchanges
Like-kind exchange closings, coordinated against a deadline that does not move.
Quick answer
A 1031 exchange lets an investor defer capital gains tax by reinvesting the proceeds of an investment property sale into a like-kind replacement property. The clock is strict: replacement property must be identified within 45 days of the sale closing, and the exchange completed within 180 days. Omega National handles the closing side of exchanges across its 15 Florida offices.
The two deadlines
Both run from the day the relinquished property closes, and they run concurrently:
- Day 45 — replacement property must be identified in writing.
- Day 180 — the exchange must be completed.
These are calendar days, not business days, and they are not extended for weekends or holidays. A closing that slips past day 180 does not become a late exchange; it becomes a taxable sale.
What the title agency does
Omega National handles the settlement work on both legs of the exchange — the search, commitment, clearing, escrow, closing and recording — and coordinates with the qualified intermediary so that proceeds are handled correctly and the timeline holds.
The exchange itself is administered by a qualified intermediary, and the tax treatment is a question for your CPA or tax attorney. Omega does not provide tax advice.
Multi-market exchanges
Investors often sell in one Florida market and buy in another. With 15 offices statewide, both legs can run through the same title agency on the same platform — which removes one coordination risk from a transaction that cannot afford a missed date.
Commercial replacement property? See commercial closings.
| Identification deadline | 45 calendar days from the relinquished closing |
|---|---|
| Completion deadline | 180 calendar days from the relinquished closing |
| Property type | Investment or business-use real property |
| Administered by | A qualified intermediary (not the title agency) |
| Omega's role | Settlement, escrow, title insurance and recording on both legs |
| Coverage | 15 Florida offices — both legs on one platform |
| Tax advice | Not provided — speak to your CPA or tax attorney |
Questions.
How long do I have to complete a 1031 exchange?
You must identify replacement property in writing within 45 calendar days of the relinquished property closing, and complete the exchange within 180 calendar days. Both clocks start on the same day and are not extended for weekends or holidays.
Can Omega National act as my qualified intermediary?
The qualified intermediary is a separate role from the settlement agent. Omega National handles the closing side of the exchange — the search, escrow, settlement and recording — and coordinates with your qualified intermediary.
Can both legs of my exchange close with Omega?
Yes, provided both properties are in Florida — with 15 offices statewide, the relinquished and replacement closings can run through the same agency on standardized platforms.
Authoritative sources
- ALTA Best Practices framework — American Land Title Association
- Owning a Home / closing guidance — Consumer Financial Protection Bureau
- Licensee search — Florida Department of Financial Services
- Like-kind exchanges under IRC Section 1031 — Internal Revenue Service
This page is general information about Florida title and settlement practice, not legal or tax advice. Omega National Title Agency has attorneys on staff; for advice on your specific transaction, speak to them or to your own counsel.
Send us the contract.
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