The Internal Revenue Service has placed certain restrictions on your rights to receive, pledge, borrow, or otherwise obtain the benefits of your 1031 Exchange funds, including when the Qualified Intermediary can release the funds to the Investor. The Investor can receive the unused 1031 exchange proceeds at any time after the 45 day identification period expires and the Investor has either:
(1) Not identified any like-kind replacement properties, or
(2) The investor has acquired all of his identified like-kind replacement properties. If the investor has not acquired all of the identified like-kind replacement properties, then the unused proceeds cannot be released until the 181st day after the closing of the Relinquished Property.