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

[Aaron H.]

Yes, you can do a 1031 if the property is in your name. Yes, you definitely have to set that up in advance - doing a 1031 is complicated and involves using a 3rd party to hold funds, various timelines for identifying the exchange property, and lots of other restrictions.

There's a ton of content on the site about the details - search the forums or the blog and you'll find it.