Not to the building as that's irrelevant, we need to look at the structure of the agreements, what benefits there are for each party and what the goal is. :)

Well written rental agreements protect both parties.

If both parties are amicable to a modification of the lease, you could replace the inherited lease with your own.

If you don't your operating agreement should specify what they're worth and you simply pass these fees on to third parties.

You would need to get an agreement FIRST to have this other party sell their interest.

You ARE a disqualified party vis-à-vis your Parent-in-Law's qualified retirement account, and she cannot invest with you or any entity that you own 10% of.

There are plenty of ways to structure partnerships- if all parties involved are clear with rules, responsibilities and expectations they can work fine.

To get a new meter installed you need to have a 3rd party inspection service approve the service for re-connection and a new meter.

"Out lot" sales in a commercial shopping center can be 3 or more years out requiring the all kinds of contingencies.Extending purchase agreements happen everyday, while the term of an extension is usually a few days or a month, there is nothing preventing an agreement to be extended for a longer term or as to any right or option to extend a purchase agreement.One and the main difference between the two contracts is that an Option does not (for a true Option) require performance by the optionee or buyer and a purchase contract requires performance by both parties, bi-lateral and uni-lateral agreements.An option may not have any default provision for performance as exercising the option is up to the buyer, the purchase agreement requires performance and carries penalties for non-performance.

But the 1031 still exists and we don't see how he can void it.That was a long story but to get to the point, my brother wants to know how he can reverse those 1031's so that the other party doesn't benefit by them, and also if this sounds like fraud, my brother wants to know where he can report this.