Can I do a 1031 exchange and go into a joint ownership deal?

[Matthew Holland]

Hello BP Crew,

I'm about to sell a property where I have around $100k in short term capital gains.  I have sole ownership with just my name on the title.  Can I do a 1031 exchange and buy a property where I will have joint ownership with another person?  The other person would be a partner (not a spouse).  

Thanks in Advance.  Any advice is greatly appreciated.  

[Bruce D. Kowal]

Here's a good online resource:  Tenants in Common

and this on IRS Rev Proc 2002-22  Sec 1031 Exchanges and TIC

You need to be very careful when around TIC's and not let the structure be deemed a Partnership. A Partnership is the kiss of death for §1031 exchanges. Tread carefully. A real trap for the unwary.