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Updated almost 6 years ago,

User Stats

31
Posts
3
Votes
Debbie C.
3
Votes |
31
Posts

1031 and letting child take over investing - best options?

Debbie C.
Posted

My husband and I are trying to set up a 1031 exchange for the sale of our house which is free and clear. But because we are older and nearing retirement, we want our son to use this 1031 money to continue investing in real estate for our family while my husband and I take a much needed break. From what I've read, once you start a 1031 you can't change the names. So we're wondering if we need to add his name to the deed before selling the property? Or perhaps another idea is to put it under an LLC with all our names in there? Does anyone have any recommendations? Thanks!

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