1031 with spouse or family member possible?

[Ken Mull]

Good Morning 

I would like to 1031 a rental property that I hold in my name that is not in my wife's name.

We are trying to buy a foreclosure at auction with cash and would ultimately like to access equity in the above referenced rental property.

There is obviously no time to set up a 1031 in advance due to the nature and timing of the sale of the property we are pursuing.

So, if my wife purchases the foreclosure in cash and titles it in her name only, can I then 1031 at my convenience out of a property that is in my name only? I think I know the answer will be no but need to ask.

Assuming the answer is no is there some way to accomplish this? Could I have my mother-in-law purchase the foreclosure and then 1031 into it at a later date? Or have a friend or entity but it?

Or does anyone have any suggestions that could accomplish this? 

Thank you for your time.