Visit our library of important 1031 exchange forms. The pros at Equity Advantage have provided everything you need in easily downloadable PDF files.The Basic Rules for a 1031 Exchange. The Relinquished Property Must Be Qualifying Property. Tell IPX1031 immediately if you plan to 1) use Exchange Funds to make improvements to the. On or before the Transfer Date, Taxpayer shall transfer the. In this article, we breakdown the rules and requirements of 1031 exchanges in simple, basic terms that everyone can easily understand. , hereinafter referred to as. This blog will explore why the clause was necessary, how it was implemented, and if it constitutes Replacement Property identification. Following is sample language for use in your contracts.