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Updated about 9 years ago,

Sanghamitra S.'s profile image
Sanghamitra S.'s profile image
Sanghamitra S.
  • from Windermere, Florida
  • Member since Dec 26, 2015
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Sanghamitra S.'s profile image
Sanghamitra S.'s profile image
Sanghamitra S.
  • from Windermere, Florida
  • Member since Dec 26, 2015
Connect
Sanghamitra S.
  • Windermere, FL
0
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Buying & Selling Real Estate

1031 to payoff mortgage?

Sanghamitra S.
  • Windermere, FL
Posted

Hi,

I have a condo that has been a rental property for a few years that I am getting ready to sell  in the next couple of months.

I also own a piece of land on which we are currently paying a mortgage. We may build on this site or sell it off... depends on our personal situation.

Q: Can I use the proceeds of the sale as a 1031 exchange to pay off the remainder of the mortgage?

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