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1031 Exchanges

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Tommy Sowell
  • Investor
  • Waianae, HI
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Tricky 1031 exchange with a partnership.

Tommy Sowell
  • Investor
  • Waianae, HI
Posted Nov 7 2015, 21:03

Hello

My partners and I have a 6 unit apartment in San Diego that is owned by a partnership. The partnership is on the title and  we would like to do a 1031 exchange. One partner would like us to buy one of his condo as part of the exchange. He owns the condo outright and has not been used as a rental.  The partnership would use this condo and 3 other condo as part of the exchange and use all 4 condos as vacation rentals. Is this OK or not. I have done several 1031 exchanges but none as a partnership.

Thank You

Tommy 

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