DEADLINES Identification Period - The Exchangor has 45 days from the sale of the Relinquished Property(ies) to identify potential Replacement Property(ies). Rules when identifying replacement property: 3 PROPERTY RULE: - Up to 3 properties of any value can be identified; or 200 PERCENT RULE: Any number of properties can be identified as long as the total fair market value of all the properties does not exceed 200% of the value of the Relinquished Property; or 95 PERCENT RULE: Any number of properties at any value can be identified as long as 95% of the value of those properties are purchased. Exchange Period - The Exchangor must acquire the Replacement Property(ies) before the earlier of: (1) 180 days after the sale of the Relinquished Property; or (2) the due date of the Exchangor's federal income tax return (including extensions) for the year in which the Relinquished Property is transferred.