Definitions for "Identification period"
The 45-day period where the exchanger must identify which "like kind" property will be purchased in a 1031 exchange.
The time period that begins upon the close-of-escrow of the relinquished property. During this 45-day period, the exchanger must identify the replacement property to continue with the Section 1031 Exchange transaction.
The replacement property must be identified within 45 days of the close of escrow/closing the relinquished property. If the 45th day happens to fall on a weekend or legal holiday, it is not to be extended.