Partnership and a 1031

[Max Shaw]

Hello All,

I have a question that I can't seem to find a clear answer on.

I have a single family property that my wife and I purchased with a partner. All 3 of our names are on the note. We currently have the property under contract to be sold. My question is, can I take my wife and I's 50% profits and roll it into our own property using a 1031 or will we have to all (all 3 owners) use one 1031 exchange account to purchase a property and continue the partnership.

Does that make sense?

Thanks in advance for the help!

Max

[Max Shaw]

Thank you everyone for the information. I am going to look at an apartment next week. Hopefully its something that the numbers work and I can use the 1031 to purchase. It's pretty hard to find good value in my area right now, but I bet I will come across something in 45 days.