Exchange Type:

FORWARD EXCHANGE

If you are selling your relinquished property first, and then buying another property to replace it.

REVERSE EXCHANGE

If you are purchasing replacement property first, and then selling your relinquished property afterward.

CONSTRUCTION EXCHANGE

If you are using exchange funds to build improvements on property you purchase in the exchange. A construction exchange can be a forward exchange or a reverse exchange.

CONSTRUCTION LEASEHOLD EXCHANGE

If you are using exchange funds to build on property you or a related party already owns. A construction leasehold exchange can be a forward exchange or a reverse exchange.

For more about complex exchanges
(reverse exchanges, construction exchanges and leasehold exchanges)