I am also eligible for the Section 121 exclusion for this transaction.I received two 1099-S forms from the title company: one reporting the cash proceeds (box 2 for Gross Proceeds) and the other showing no amount in box 2 but with box 4 checked, indicating the transaction involved a 1031 exchange.

You’ll also need owner and lender's title insurance as well as the standard fire and liability coverage, which I assume you already buy.

Luckily these two individuals, separate states and realtor companies, had everything working and running smoothly including my title and exchange company.

I was excited to try this is GA, but unfortunately I have a Title issue going on with this property.

Probate is public, requires paperwork, and changing of the Title/Deeds. 

Is it required to go through a title company and put them on deed?

Hi Dilini, I would not recommend starting renovation until you take title to the property.

After suing Farmers Insurance for 7 years and having to hire an attorney to deal with a title claim that the underwriter's counsel admitted was a valid claim, I know of what I speak. 

Same thing can be said for a loan officer, title insurance, attorneys, etc.  

These are the likes of title company representatives, real estate transaction attorneys, and lenders.