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Updated almost 3 years ago on .
1031 leasehold property converting to fee simple prior to closing
I am looking at a condo in Hawaii, it's leasehold with less than 30 years on lease so not suitable for 1031
It can be converted to Fee Simple but 1031 company saying I cannot have that fee included as a line item at closing, it has to be a contract stating it's Fee Simple.
Seller cannot fund the fee, is there a way to get creative to get it through Escrow so that it will sell as Fee Simple
I do have money available to pay the fee BUT I want the final money come out of my 1031, can I loan it "some way" and ensure I get it back at the contract exchange as it sells at full amount with lease buyout fee included as one Fee Simple property.
Hope I explained it clearly, I tried searching the forum and cannot find anything similar.