This is a sample document for those interested in reviewing the actual legal language used in GITDEC Exchange documents.

REPLACEMENT PROPERTY IDENTIFICATION

The Treasury regulations which serve as the interpretation of Section 1031 exchanges by the Internal Revenue Service, require that you identify the replacement property or properties, both real and personal, which you expect to acquire. Your identification must be made within forty-five (45) days of the closing of your relinquished (exchange) property, both real and personal, and the replacement property or properties must be acquired within one hundred eighty (180) days of the relinquished property sale.

Two rules and one exception apply for all identifications. They are:

The Three Property Rule - Any three properties of any value identified by address within 45 days of the close of the relinquished property.

The 200% Rule - Any four or more properties with an aggregate value not exceeding 200% of the value of the relinquished property, identified within 45 days of the close of the relinquished property.

The 95% Exception - Any amount of properties of any value, provided that at least 95% of the aggregate value of the identified properties is acquired within the 180 acquisition period. All the properties must also be identified within 45 days of the close of the relinquished property.

For the purposes of identification in business and personal property exchanges, please contact GITC for the form (IDENTIFICATION OF BUSINESS AND PERSONAL PROPERTY) which addresses the asset classes and SIC product codes which are critical to any business exchange of assets.

For business and personal property exchanges which include the exchange of real property, please utilize the following real property identification form together with the (IDENTIFICATION OF BUSINESS AND PERSONAL PROPERTY) form.

IDENTIFICATION OF REAL PROPERTY

Exchangor's Name: Jane Q. Public

Relinquished Property Address: 1234 Main Court, Anytown, Illinois

_____I hereby identify using the Three Property Rule:

Property One:__________________________________________________

Property Two:__________________________________________________

Property Three:_________________________________________________

_____I hereby identify using the 200% Rule. (Attach Property List)

_____I hereby identify using the 95% Exception. (Attach Property List)

Exchangor's Signature__________________________Date___________

Exchangor's Signature__________________________Date___________

Exchangor's Signature__________________________Date___________

Exchangor's Signature__________________________Date___________