Splitting proceeds

[Chase Shank]

I'm a little confused with the 1031. Can you split the proceeds from a SF home sale into 2 down payments on properties of equal or greater value? Or is it limited to a SF for a SF.

Thanks!

[Robert Hetsler]

you can use the proceeds to purchase two different properties and to secure the full 1031 Exchange Benefits, you need to ensure the combined value of both properties is equal to or greater than the relinquished property, less reasonable closing costs, which does not include the payoff of a mortgage.  I hope that helps