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Updated over 6 years ago,
1031 towards a vacation home?
My father is getting toward retirement and is looking at selling one of his businesses he is a partner in. Once the business is sold could he take his share and use that in a 1031 to purchase a vacation/second home? I would think he would have to use it as a vacation rental to be able to qualify for a 1031 correct? If so is there a minimum amount of time it has to be rented to qualify?