1031 Exchange from single owner to join ownerhip/

[Varun Parakh]

I have a scenario and wanted to check if this qualifies as 1031 exchange. I have a property (Condo) which I am planning to sell and do a 1031 exchange. Can I partner with someone else and go 50% each on a new property (with my share of 50% equivalent to original Condo I am selling) and do a 1031 exchange?

ORIGINAL HOME: Title on Owner1

New Home: Joint deed on name of Owner1 and Owner2 each owning 50%.

[Dave Foster]

@Varun Parakh As long as you take title to your % in the same way you held your old property - so that it is reported on the same tax return.  And as long as your % equals or exceeds the amount of your net sale it would be a good 1031.