Selling your home in Park City? A 1031 exchange can be a great tool when selling investment property.A 1031 exchange in Utah is when one property is exchanged for another of equal value or higher. Start your 1031 Reverse Exchange here. Please provide us with as much information as possible. Step 1: While contemplating the sale of an investment property, contact 1031 Pros. Navigating the Utah 1031 Exchange process can be intimidating. Here are the steps necessary to defer capital gains taxes on real estate. Utah 1031 Exchange rules allow investors to defer capital gains on sale of qualified property if exchanged for like-kind property. Warranty Deed in the form attached hereto as Exhibit D. DRAFT.