1031 Exchange Question -

[Rich Solano]

Hypothetical 1031 Exchange question here for one entity with multiple members: 

If you have an LLC with three people in it holding a rental and all partners decide / agree / vote to sell... Would I be able to take my proceeds and 1031 them into a different asset outside of the entity (that owns the rental)? I have heard different answers... One being that you are only able to utilize the entity itself to roll the entirety of the proceeds into a new asset... which is not the ideal scenario.