Identification Removal refers to removing or changing the property identified as the replacement property in a 1031 exchange process. The Internal Revenue Service (IRS) rules state that once a taxpayer identifies replacement property within 45 days of selling their relinquished property, they must close on that property within 180 days. The identified property cannot be changed after the 45th day unless a catastrophic event happens that prevents the transaction, like the destruction of the property.