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Updated almost 9 years ago,
1031 out of a shared investment.
A family member owns a 1.5% in a hotel that just sold for 9 M, cashing out at roughly 110k. I'm wondering if a 1031 exchange would be applicable in this situation. It is my understanding that in a 1031 exchange the property being traded up to must exceed the value entire asset sold, requiring a purchase of 9 M+. Is this a correct interpretation?