I want to buyout a judgement lien against a property and I was wondering if anyone could give some advise as to how exactly yo do it.

A couple bought their home back in the 90's for x amount of dollars, well it is well over that price x today, so they have been advised that they could turn their residence into a vacation home(and conduct it as an investment) and rent it out for a set amount of time( of which I do not know) after that period has passed they can then use a 1031 exchange because that residence is now used as an "investment property"Obviously, I am no attorney or expert of any kind but I'd assume it was legal to do this as it is quite common here(shady, definitely) but it is what I have seen and am not saying I agree with it or presume to know the fine tuned details of what else transpires.

Please Advised

LEGAL COUNSEL ADVISED: I acknowledge Buyer has advised me to seek independent legal counsel to review The Agreement. ________ 16.

He has been advised that if he farms the land for the 2 years prior to selling, and his farm earnings are more than his personal income, then he can avoid the capitals gains tax, he more or less needs a good accountant to organize the whole deal and who might have some recommendations on how to structure everything.Thank you in advance for any tips/feedback!

I certainly don't want to get into a bad deal and not be able to move the property.Any advise?

You'd be advised to ask for written consent...3.

He advised the exact same thing you did.

In all cases, a very experienced, well-regarded securities attorney prepares all docs and advises us.

@J Martin I don't travel (much) out of Sacramento-- here is my opinion-- BP people don't shoot me for bad advise (J Martin made me do it).1) Does your buyer who has been getting a free ride for 1.5yrs (I wish you were my lender :) ) live in the property?