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Updated over 1 year ago, 08/13/2023
1031 Exchange to 2 properties after divorce - Question
Hello,
So my ex-wife and I kept a Single Home rental in Central Oregon during and after our divorce. Unfortunately had to sell our Duplex in pendency of the divorce, which was cash-flowing wonderfully. We kept the single home property because we got zero offers during our divorce and were asking $30k less than we paid originally. We decided to rent it out instead and wait until the market went up to try and sell again.
My question is: Once we sell, is it possible to 1031 exchange into 2 different properties, but each go into our own property without each-other's names on the other persons mortgage?
I'm also open to any suggestions.
Thanks!
-Josh