Sale of LLC Property in one state 1031 Exchange to another CPA's!

[Fausto Carosella]

Hello All,

My folks recently sold their last property and made the move to retirement here in Florida. Last year they sold their investment properties held in a Massachusetts LLC and purchased various properties in Florida through a 1031 Exchange.. so they had several properties in Florida Deeded to a Massachusetts LLC I was maintaining for them while they lived in Mass.. Fast forward to present: they now live in Florida with those properties still being held by a Massachusetts LLC and we want to move those properties into a Florida LLC. Originally my attorney's office advised me to open an LLC here in Florida with the same name and then once the 1031 exchange was completed we could simply Deed the property from the Massachusetts LLC to the Florida LLC. So I've opened a Florida LLC with the exact same name but have yet to apply for an EIN... so the entity simply exists. My question/concern is this: If I simply Deed (Quit-Claim Deed??)the property from a Mass LLC to a Florida LLC will that trigger a tax event? wouldn't it technically be a change of ownership? Essentially we're basically trying to relocate the company from one state to another. What's the best way to proceed?

Thanks!!