Can I use a 1031 exchange if I bought under my personal name?

[Freddy Lleren]

I bought a property under my name instead of an llc. I am getting ready to sell and I there will be capital gains. I have heard about using a 1031 exchange to use the proceeds for another property. Is this correct? Do I need to set this up before the sale? some guidance would be appreciated. Thank you

[Ashish Acharya]

Originally posted by @Freddy Lleren:

I bought a property under my name instead of an llc. I am getting ready to sell and I there will be capital gains. I have heard about using a 1031 exchange to use the proceeds for another property. Is this correct? Do I need to set this up before the sale? some guidance would be appreciated. Thank you

You don't need LLC to do 1031 exchange. You will replace this property with another property under your name. You don't want transfer property right before you do an exchange either if you were planning to exchange the property in LLCs name.

Also, you don’t sale a property and buy an other property, 

You need to structure the deal with the help of QI. Talk to @Dave Foster.