You can have it listed on the MLS while you are waiting that time, and set your settlement date far enough in the future so that you meet the hold time requirement (24 months out of last 60 IIRC).

Some title company are just settlement mills and just want to do mundane easy homeowner transactions.How is it possible that two entities have title to the property?

One more point, using the funds that I mentioned to defer the tax is a much better way because you could flip a property after one day with the clear intent to resell it and still have no issues with the IRS  - these are called structured settlements - I wonder if you will truly disclose all that to your client going forward especially the alternative way to avoid the 1031 exchange all together or would that be a conflict of interest? 

In general, most liens can be removed through a settlement, or they'll fall off after the redemption period.

You'd get into the details of who's paying what to whom during the negotiation and closing process, and this would eventually be spelled out on the settlement statement.The end buyer will also need to see the purchase agreement - they will step into your shoes (as the buyer) at the exact same terms you agreed upon with the seller, so they will need to know exactly what those terms are.

(talk is cheap)Ask if they can mentor you on how to write an offer, use a skinny contract, and necessary protection clauses - look at their forms before making a decision to take a mentor on.Principal mortgage, delayed settlements, subordination mortgages, possession clauses, legal assignment forms and agreements, wrap around mortgages - how to stay legal and honest in your real estate business.Prospecting - negotiating, hybrid offers, long form offers, commercial contracts, joint ventures, piggy back offers, raising funds.Public auctions - how and where to profit, where to stand, how to bid, when not to bid, conversation with trustees and auctioneer before the live out-cry action, farming for commercial properties.Title companies - credit lines how not to use HML's, and tenant management, local rental requirements - staying legal - eviction and and tenant retention. 

If your intentions are to flip real estate - the only money you need is for advertising your controlled property (to find the deal and to liquidate it)- that should be no more than $2,000, maybe $100 consideration on your contract.......Unless you are going to go to settlement first and than flip the real estate paying unreasonable transaction costs.Do you have the needed skills to accomplish what you want to do -- like it or not - flipping houses has a bunch of moving parts -Power prospecting - where are you going to get your leadsNegotiating - do you know how to control propertiesHybrid offers and joint ventures with sellersUnderstanding contracts is important - will you use a long form or a skinny contractAssignment clauses - will your agreement have all the property and self-serving clauses in it.Built-in extensionsFind the assignee and closing the deal - do you know what the proper procedures are - will you collect your assignment fee in advance of closingAre you ready with the what if (s)the assignee backs out and wants his money backthe seller won't come to settlementthe seller wants out or wants more money - he is angry because you made too much moneythe title company will not cooperate because you don't have legal titleauction - will you flip your transaction using the auction methodan agent wants a feethe seller accuses you of operating as an agent without a license you run out of time on your contract, you are in default - the assignee wants to sue you for misrepresentation there is a fire before settlementyour forms; contracts - assignment - disclosures - required by law are not in order - can you defend your positionif you go into a deal and spend $5,000 and it won't close due to judgments the seller forgot to tell you about - what nowSorry for all the negative What if's........ but we are dealing with people - they are complicated sometimes - unreasonable - and litigious most of the time.So be aware - flipping houses, commercial properties, businesses with real estate and non-conforming real estate is not as easy as some would have you believe ---Money - is not the answer -------- systems - techniques - formulas - negotiations and education is!

Passive Income  is always good - I like to do a system I call Control and Roll - it's way of controlling real estate with a skinny contract of sale with special clauses that allows me to sell the property at public auctions during my contract period - if it does not sell - I don't have to go to settlement --You need to make full disclosuresFind a suitable auction companyBe prepared to pay the advertising for the auctionHave a complete and disclosed assignment agreementExample: We did one recently where we controlled the property for $50,000 and sold it within 4 weeks for $90,000 - we kept the $40,000Control and Roll type of investing is the highest leverage in real estate that you can getC&R is a great way to build cash capitalWishing you good luck -

There could be a settlement as a result but I've seen many cases where a majority of this goes to legal fees and the building is not left with enough to fix the building and that means - SPECIAL ASSESSMENT.

If there was a lawsuit the Association's insurance would cover the settlement and it would be unlikely that the Association wold have to sell or transfer their asset to pay for that settlement.