1031 Question- into self owned LLC?
We have a client who is looking to sell one of his properties that is in his personal name, and use the proceeds to buy out his existing ownership share in a multi unit he owns. I don't believe 1031 guidance would allow you to exchange into a entity or other asset that you own personally either outright, or as a member of the ownership LLC.
I’ve already reached out to our contact in the industry, waiting on some feedback. Anyone have any experience with similar situation?