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1031 Exchanges

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Stone Jin
  • Rental Property Investor
  • Chandler AZ and Sylvania, OH
559
Votes |
706
Posts

1031 Exchange Scenario

Stone Jin
  • Rental Property Investor
  • Chandler AZ and Sylvania, OH
Posted Jun 20 2014, 08:07

I'm wondering if this is possible?

My mom recently bought a condo that we are going to try to flip. We want to put the profits from the sale into a 1031 and have her buy an investment that I currently own. I owe roughly 35K and worth about 130K. Is it possible to do this and if so can she purchase the property for what I owe?

Thanks in advance

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