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Updated almost 4 years ago on . Most recent reply presented by

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14
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12
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Garrett Andersson
  • Real Estate Broker
  • Winson-Salem | Boone, NC
12
Votes |
14
Posts

1031 Exchange with LLC

Garrett Andersson
  • Real Estate Broker
  • Winson-Salem | Boone, NC
Posted

Question for 1031 Exchange owned by LLC in North Carolina...

Individual owns Property A in "Property A LLC". He also owns Property B in "Property B LLC". He sells Property A for 70k profit. Can he buy Property B with "Property A LLC" and do a 1031 exchange, resulting in "Property A LLC" owning Property B? Both LLC's are owned by the same person.

Most Popular Reply

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19
Posts
5
Votes
Rich Barrett
  • St. Johns, FL
5
Votes |
19
Posts
Rich Barrett
  • St. Johns, FL
Replied

No, my understanding is that 1031 exchanges have to be conducted "at arms length" meaning you can't be closely related parties. 

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