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Updated almost 5 years ago on . Most recent reply

User Stats

9
Posts
6
Votes
Rachel Campagnolo
  • Rental Property Investor
  • Los Gatos, CA
6
Votes |
9
Posts

Title transfer rules in 1031 exchange

Rachel Campagnolo
  • Rental Property Investor
  • Los Gatos, CA
Posted

We are selling a CA investment property (single family) this summer, and plan to do a 1031 exchange into several other like investment properties. Question is, if the title is in an LLC in CA, what happens to that LLC if we purchase in other states?

Most Popular Reply

User Stats

9
Posts
6
Votes
Rachel Campagnolo
  • Rental Property Investor
  • Los Gatos, CA
6
Votes |
9
Posts
Rachel Campagnolo
  • Rental Property Investor
  • Los Gatos, CA
Replied

@Dave Foster excellent info thank you. What if the property is currently in my husband's name, but we both want to participate in the 1031 to purchase the new properties? Is it recommended we setup an LLC first, or is it ok to move ahead to sell the existing property in his name and purchase the new properties in the newly formed LLCs (all assuming that we will purchase our of CA)? Thanks!

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