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Updated almost 4 years ago,
Can I use a friends 1031 exchange as a down payment?
A friend who recently sold some land has offered to help with a down payment. We will be consulting an attorney on this but before we do I'd like to know if anyone has ever done or heard of this. My friend who is also my realtor is doing a 1031 exchange on her own recent sale and offered to use their exchange to help me fund a down payment on a multifamily building (2-4 units). Can we both be on title? Is this even allowed? If so how should I go about e eventually buying her out?