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Updated over 1 year ago on . Most recent reply

User Stats

15
Posts
2
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John Lupo
  • Investor
  • Hollywood, CA
2
Votes |
15
Posts

I would like to 1031 my half of properties but brother wants to keep properties as is

John Lupo
  • Investor
  • Hollywood, CA
Posted

  We currently own a small portfolio of properties. I would like to 1031 my half or sell the properties, If  brother does not want to sell what can be done.

  We are currently updating the operating agreements, I think this is a good time to add some language to the documents stating that if one partner wants to sell or 1031 he has the right.

  Is this even possible ? and what can be done in this situation where you have one partner wanting to sell and the other wanting to keep the properties as is.

  Are there any estate planning attorneys in the Los Angeles CA.  area I can reach out too.

  • John Lupo
  • Most Popular Reply

    User Stats

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    Dave Foster
    #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
    9,358
    Votes |
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    Dave Foster
    #1 1031 Exchanges Contributor
    • Qualified Intermediary for 1031 Exchanges
    • St. Petersburg, FL
    Replied

    @John Lupo, A very common scenario.  Why don't you sell your % to your brother and do a 1031 into something on your own.

    • Dave Foster
    business profile image
    The 1031 Investor
    5.0 stars
    94 Reviews

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