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Updated over 7 years ago,
1031 Exchange Deal in New York
Hello! My buddy in Buffalo, NY is doing a 1031 exchange and may run into a potential issue which could happen to myself in the future as well. The house he sold was paid off and in his LLC. The current deal is for a 4plex and he cannot get a mortgage in his LLC. He has to get one in his name. So my question is can you still do a 1031 exchange if the house you sold is in your LLC and the house you are buying is in your name?
Thank you!
Jesse