We can facilitate the following types of exchanges

Simultaneous Exchange:

An exchange transaction when both the relinquished property and the acquisition property are closed on the same (or closely to) the same date. The proceeds of the relinquished property can be directly assigned to the acquisition closing.

Delayed Exchange:

An exchange transaction when the relinquished property closes, the funds are held by the Facilitator and used at a later date (within the required time limitations) to acquire the replace- ment property. This is the most common type of 1031 Exchange. 

Reverse Exchange:

An exchange transaction when the replacement property is acquired prior to the disposition of the relinquished property. These are more complex transactions and First American Exchange encourages you to consult with your tax advisor before at- tempting this type of exchange. Certain lending institutions may not wish to participate in this type of exchange. 


An exchange transaction where the acquisition property is vacant land or a property in need of completion/renovation. The exchange funds are held by the Intermediary and used both for the acquisition and completion of the project. You should proceed with caution on build-to-suit exchanges. There are inherent complications with the identification process of a “to be produced” property and with issues of completion within the 180 day time allotment. Advice from your tax advisor and/or attorney is strongly recom- mended. 

Fractional (Tenants-in-common) Exchange:

An exchange where the acquisition property is a prepackaged interest in a larger, institutional-grade property as provided by IRS Revenue Procedure (2002- 22). This procedure helps overcome the hurdle of identifying a suit- able property within the 45-day window. 

Personal Property Exchange:

An exchange where the items being exchanged are depreciable tangible personal property. Some examples would include: art held for investment, construction equipment, and a company-owned boat or airplane. 

Multi-Asset Exchange:

An exchange of real estate and personal property combined. This helps when selling a property that includes a significant portion of personal property such as a restaurant, nursing home or retail business.