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1031 Exchanges
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Updated about 4 years ago on . Most recent reply
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1031 Exchange question
Hi,
New here, and have a question. . . I own two condos (10+ years and used as vacation rentals) in FL with my ex-husband. We no longer want to be partners. One is currently for sale and under contract with closing early January. I'm thinking of buying him out of the other condo we jointly own. I'm wondering if it's possible/legal to use the cash from the one condo sale and do a 1031 exchange to purchase/buy him out of his half of the remaining condo. Both condos are owned personally and not by an LLC.
Thank you in advance,
Dale
Most Popular Reply
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Thank you @Dave Foster and @Bill Exeter. I appreciate your quick and knowledgeable responses.