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Updated over 4 years ago,
1031 exchange, then into LLC
I have a property I would like to sell and use the 1031 exchange provision to buy another. My current property is in my personal name. I plan on exchanging into another property (possibly several) in my personal name as well. However, I would eventually like to put it into an LLC in which my brother and I own 50% each. Is there a "seasoning" period I should allow to pass before using a general warrantee deed into the LLC? And does putting it into a multi-member LLC somehow void the 1031 exchange?
thanks.