"Identification" refers to the IRS requirement that taxpayers must identify in writing property they intend to acquire as replacement property in a 1031 tax-deferred exchange.

The Treasury Regulations state that replacement property is "identified" only if it is designated in a writing, signed by the taxpayer and sent before the end of the 45-day identification period to either the seller of the replacement property or another person involved in the exchange who is not disqualified¹-e.g. seller's broker, escrow officer, or qualified intermediary ("QI").

The identification notice must be sent to one of the parties noted above on or before midnight of the 45th day of the exchange period.

With Hawai'i's evolving real estate market, buying or selling property on Maui has become an even more unique process. The guidance of a kama'aina (long-time resident) and experienced real estate professional like REALTOR® Kathryn Petty-Tubman (S) is crucial to navigating Maui's one-of-a-kind market.

REALTOR® Kathryn Petty-Tubman (S) is the Oceanfront & Resort Specialist. She understands the ins and outs of South Maui, specializing in the upscale communities of Wailea and Makena, adjacent to comfortable, vibrant Kihei and just 30 minutes from the Kahului Airport.

For more information on Maui Real Estate, don't hesitate to contact Kathryn Tubman at (808)276-3311. You can also browse our website and be sure to check back regularly for daily updated listings. Our website is userfriendly that offers a wealth of information on Maui real estate.

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