1031 Exchange and Option Contract

[John Dornberger]

Planning a 1031 exchange of a PA investment property for a Maine investment property.  Relinquishing PA property to be sold to my tenant for cash, no mortgage.  Tenant has 50% of the money, plans to have remaining 50% of the money by mid-2022.  I don't want my 45 day/180day clock to start until tenant makes 2d (final) payment.  Tenant wants me to "commit" to her for sale, but I don't want to transfer deed now/deal with qualified intermediary issues.  Instead, I'd like to enter into an option to purchase agreement with tenant, i.e. she pays me x dollars now for an option to buy expiring 6/30/22 for example. But is that "option agreement" an executory, real property purchase contract even if will not pass to the buyer until the last payment is made?  Thanks, John