Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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Within how many days must Samuel close on the new property in order for it to qualify as part of the 1031 exchange?

180 days
30 days
45 days
60 days

The correct answer is: 180 days

Samuel must close on the new property within 180 days in order for it to qualify as part of the 1031 exchange. This means that any other time frame, such as 30 days, 45 days, or 60 days, would not meet the requirements for a 1031 exchange. It is important for Samuel to pay attention to this time frame and make sure to close within the designated amount of time in order to successfully complete the exchange.