1031 Exchanges

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Properties in Cincinnati, Ohio - Partner wants to dissolve

Posted May 29 2022, 14:21

Hello all and thanks in advance for the help,

My partner and I are in a situation where too many disagreements have led to dissolving the partnership. He wants to keep the properties and buy me out, I want to sell the properties and 1031. He has told me that if he buys me out of the partnership that I could still 1031 into other properties, is this true?

Thanks,

John

Cincinnati, Ohio

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Greg Scott#4 Buying & Selling Real Estate Discussion Contributor
  • Rental Property Investor
  • SE Michigan
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Greg Scott#4 Buying & Selling Real Estate Discussion Contributor
  • Rental Property Investor
  • SE Michigan
Replied May 29 2022, 16:55

If the properties are in your name, you probably can do a 1031.

If they are in the EIN of the partnership or in his name, a 1031 is unlikely. 

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Replied Jun 2 2022, 21:33

They are in our partnership's name.