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1031 Exchanges

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Vincent Chin
  • Investor
  • Brooklyn, NY
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How long must a property be in your name before it can be 1031?

Vincent Chin
  • Investor
  • Brooklyn, NY
Posted Nov 24 2016, 21:13

Relatively new here, thanks in advance for answering my question.

For context, I own a property with several relatives on the deed as basically caretakers, but the property is understood to be mine; we'd like to take their names off of the deed, and then utilize 1031 rules to change into another property.  (My understanding is that the ownership must remain identical in both the before-and-after properties for a 1031 exchange.)

Is there a minimum amount of time that it must be only in my name before I can use the 1031 exchange?

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