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Updated over 3 years ago,

User Stats

158
Posts
45
Votes
Jonn Vidal
  • Bel Air, CA
45
Votes |
158
Posts

Tips for Parents transitioning from Income property to SF

Jonn Vidal
  • Bel Air, CA
Posted

Parents owned their 2F since the 80s but are finally selling, and retiring to a SF being purchased and moved into before they close on the 2F.

With current NYC moratorium on eviction, how do they smoothly vacate current tenant in 2F who's been there for years but only month-to-month?; what sort of notice should be given to tenant and how soon in advance, given this year's special considerations?

If a 1031 is feasible how do they do it? They already have an attorney for the SF but not yet for the 2F, if will be different due to distance/counties.

Any other helpful considerations? Thanks so much in advance, fellow BPers!

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