1031 Extension - Federal Disaster?
This article mentions  Revenue Procedure 2007-56; the ability to extend a 1031 in the event of a Federal Disaster such as current situation.

Has anyone ever used 2007-56?  During bad storm, earthquake state, etc?

Wondering if it was smooth.  Any hiccups, was it easily recognized by IRS and did they comply, etc?

&amp;#x200B;

[https://nerej.com/1031-can-i-get-an-extension-on-the-deadline-on-an-exchange-i-need-more-time-to-shop-by-thomas-st-jean](https://nerej.com/1031-can-i-get-an-extension-on-the-deadline-on-an-exchange-i-need-more-time-to-shop-by-thomas-st-jean)
[{"id": "flkocj7", "text": "Can't get that article to load.", "replies": [{"id": "flktaey", "text": "ok.   here are the two important paragraphs.  \n\nThe other circumstance in which the 1031 deadlines can be extended comes to us through Revenue Procedure 2007-56. This revenue procedure allows for a 120 day extension to both the identification period and the exchange period, potentially increasing the ID period to 165 days and the Exchange period to 300 days.\n\nThe catch is that this revenue procedure applies to situations in which a federal disaster has been declared and other circumstances of the revenue procedure have been met. However, there is a good chance the extension will apply if you, the relinquished property, the replacement property of the qualified intermediary are in an effected county listed in the declared disaster.", "replies": [{"id": "fllv0j8", "text": "I this this situation should apply those extensions. The capital markets are squirrelly. My banker called me two weeks ago offering to refi my home loan which is already 3.25% and he said he would easily beat that. Since then they are unable to price even easy refi deals like this. Imagine underwriting CRE cash flow with tenants in meltdown. It\u2019s an impossible situation. Also, lenders are all hands on deck doing forbearance requests. Lease estoppels signed two weeks ago are meaningless now.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flku5gx", "text": "Your 1031 facilitator and/or attorney will know the answer to this extremely specific question.", "replies": [], "depth": 1}, {"id": "fllvax3", "text": "I am in the middle of an exchange and was notified by my QI that there is no relief yet announced by the IRS and that all should continue as normal.", "replies": [], "depth": 1}]