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Updated about 2 years ago,

User Stats

22
Posts
8
Votes
Cameron Snyder
  • Flipper/Rehabber
  • Westport, CT
8
Votes |
22
Posts

Heloc at $0 balance and 1031

Cameron Snyder
  • Flipper/Rehabber
  • Westport, CT
Posted

Hi all - 3 years ago we 1031'd an investment property into 3 DST properties. At the time we had a $0 balance HELOC on the property we sold. I just realized the bank still has the $0 balance HELOC open and available for use. Did this HELOC transfer to the new properties or was something overlooked during the sale 3 years ago? Just wondering if I still had access to it, the bank said it's ready to go but I do not want to do anything wrong by the IRS!

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