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Updated over 6 years ago,
1031 Exchange on 1 Unit that is being sold with entire building
Hello BP! I am currently being offered to sell one of my condo units along with the entire building complex. I am seriously considering doing this, but not sure if it would be the smart move and/or if I can do a 1031 Exchange. I am very green on that subject, I am trying to see how I would even start. The building is about 30% owned by individual owners. The other 70% is owned by a company that would like us to join them in the sale. They have shown us possible percentages that we would get per unit. Can I still do a 1031 Exchange if I join with them? Also, I would like any other input you might have on the matter, not just the 1031 Ex. Like what should I be considering. Thanks.