There are many requirements that an exchanger needs to be aware of.  Equity 1031, LLC suggests that every exchanger check with the IRS, consult with a tax attorney or an accountant to be familiarized with these requirements.  As a complimentary service, Equity 1031, LLC puts together the following list as a guide for the exchanger.  This list only includes some of the requirements and should not be viewed as a replacement for the needs to consult with the tax professionals.

In general, to defer all of the capital gain tax, the following requirements must be met:

1. Use a Qualified Intermediary such as Equity 1031, LLC.
2. The relinquished property and the replacement property must be qualifying property.
3. Value of the replacement property must be at least the value of the relinquished property.
4. All proceeds must be used to acquire the replacement property.
5. Debt of the replacement property must be at least the debt of the relinquished property.
6. Follow the 45 days identification requirement.
7. Follow the 180 days completion requirement.
8. Same title of ownership before and after the exchange.

As mentioned above, these are the general requirements.  There may be variations to some of the requirements that the exchanger may exercise and still avoid all of the capital gain tax.  Always consult with a tax attorney or accountant.