Can 1031 be used when selling 1/3 share of LLC that owns property

[Daniel Dietz]

Hello All, 

I am just starting to explore the idea of 1031s down the road. Mostly trying to make sure I set things up right entity wise on the front end to make it work later. 

I along with 2 partners won properties in an LLC where we each own 33.33%. We own multiple rental properties in this LLC.

When the time comes and we want to sell some properties or one partner wants to sell their share of the LLC to the others would we be able to use a 1031?

The first scenario I could see would be to sell property A & trade up to something more expensive. Would an investment in a syndication or LLP that owns real property work for this?

If only on partner wants out, would they be able to just sell their share of the original LLC to the other partners (no real property sold) and use those funds to buy property on their own using a 1031?

And the final thought is can you ever sell properties you own in an LLC to yourself personally? I am thinking both to 'reset' the depreciation clock, and to have 100% ownership in a property instead of 1/3 ownership in 3 properties with partners?

Hope that all makes sense.

Thanks, Dan Dietz