Using 1031 exchange proceed for partnership

[Qi Ming Chen]

Does anyone know if it's ok to do a 1031 exchange and use the money to jointly buy property with somebody else or does the owner have to be the same person and no one else?

[Bill Exeter]

Hi @Qi Ming Chen, 

You can acquire property together.  Generally, it is done through a tenancy-in-common ownership structure, and as long as the percentage that you own is equal to or greater than the Net Sale Price of what your sold (relinquished property) and you reinvest all of your net cash you would qualify.