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| Delayed Exchange Treasury Regulations continued... Replacement property may be identified by designating it as such in a "written document signed by the taxpayer and hand delivered, mailed, telecopied or otherwise sent before the end of the identification period," to: 1) The person obligated to transfer the replacement property to the taxpayer (i.e., the Qualified Intermediary); or
The replacement property must be "unambiguously described" in the written document or agreement. A legal description, street address or distinguishable name such as "the Howe 'bout Arden Center" will suffice. An identification of replacement
property may be revoked only in writing, in a document signed by
the taxpayer and hand delivered, telecopied or otherwise sent at
any time before the end of the identification period to the person
to whom the identification of the replacement property was sent.
Note that if the original identification was made in a written agreement,
the identification can only be revoked if it is made in a written
amendment to the agreement signed by the taxpayer and delivered as
above to all of the parties to the agreement.
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