Can I change the title of ownership in a 1031 exchange?

[Jeff Klein]

I have a TIC share. I would like to exchange into a property, also TIC. My current TIC is in my personal name. In the exchange I would like the new property to be one half in a revocable trust in my name and one half in a revocable trust in my wife's name. In other words, I would be gifting half to my wife. Is that possible? Or do I have to change the form of ownership before the exchange? (I would really like to avoid that.)

The alternative would be to exchange it into an irrevocable trust. But it's not my preference.  Is that possible?

[Dave Foster]

@Jeff Klein a revocable living trust generally is a disregarded entity.  If it does not file it's own tax return then all of the activity of the property is reported on your personal tax return.  And if you file a joint tax return then you and your wife are the same tax payer.

If that's true then you can sell as yourself and buy as your trust and her trust as tenants in common. No problem.