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Updated over 10 years ago,

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Michael Parham
  • Riverside, CA
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Selling and tax liability

Michael Parham
  • Riverside, CA
Posted

I have a question about the 1031 laws. I have a rental property, in California, which I have a substantial amount of equity in.I am looking for a way to sell this property so I can purchase 15-20 multi-unit properties in a different state. Is there a way I can sell this single property in Ca. and use the equity to purchase multiple properties without being liable for capital gains or any other types of taxes? I was told I have 45 days to find the property/properties and 6 months to close escrow is this correct? Any information would be extremely helpful in this matter.

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