The 1031 Exchange Institute

Welcome to The 1031 Exchange Institute™. The 1031 Exchange Institute is your complete online resource for 1031 exchange, 1033 exchange, 1034 exchange, 721 exchange, 453 installment sale and 121 exclusion information.  Information will also be provided regarding Self-Directed IRAs, including Traditional IRAs, ROTH IRAs, SEP-IRAs and SIMPLE IRAs. 

The 1031 Exchange Institute is dedicated to educating and informing real estate investors and their advisors on the benefits of 1031 tax-deferred exchanges and other tax deferred and tax exlcusion strategies so they can make better informed investment decisions.

1031 Exchange Discussion Forum > seller refuses to close because she cant find a property for 1031 exchange

In the contract of sale there is a 1031 clause that states: "accordingly purchasers obligations for payment of the consideration shall be fulfilled by the sellers designation of exchange property of like kind within the meaning of section 1031, which exchange property shall be transferred to the seller."

It is now two months past the on or about closing date. does this clause allow the seller to delay the closing until she finds a property or is she in breach? and can i sue for specific performance as stated in the contract?
April 17, 2013 | Unregistered CommenterJoe