Once a 1031 Exchange has begun it needs to identify at least one replacement property within 45 days after relinquished property has closed. Utah 1031 Exchange rules allow investors to defer capital gains on sale of qualified property if exchanged for like-kind property.Selling your home in Park City? A 1031 exchange can be a great tool when selling investment property. On or before the Transfer Date, Taxpayer shall transfer the. A 1031 exchange in Utah is when one property is exchanged for another of equal value or higher.