Definitions for "Exchange period"
The 180-day time span in which the property exchange has to take place. During this period there is also a 45-day period where the exchanger must identify which "like kind" property will be purchased.
The 180-day window in which the Exchanger has to complete a tax deferred exchange. During the Exchange Period there is a 45 day Identification Period in which the Exchanger must Identify which property or properties will be purchased.
The replacement property should be received by the taxpayer within the "Exchange Period," which ends on the earlier of 180 days after the date which the taxpayer transferred the property relinquished, or the due date for the taxpayer's tax return for the taxable year when the transfer of the relinquished property occurs (such as April 15th). The exchange period is 180 days, due to the Taxpayer's ability to extend the date of payment.