TIC Deed between spouses after one does 1031 Exchange

[William D Schablowsky]

My wife and I are looking to purchase property (vacant land). We are looking at purchasing 80% of the property by doing a 1031 Exchange by selling another parcel of vacant land. We have a buyer for the property we are going to sell. My wife is the only person on the deed for the property we are selling. Even though the income from the property has been reported on our joint tax return for over 15 years (farm lease). We would like to do a tenants in common deed with her being listed as 80% owner and me being listed as a 20% owner to satisfy the 1031 exchange rules. Is it correct that this would satisfy the 1031 Exchange rules? I have had some say yes. While others have said no. One title company said the deeds must match and that we would have to change the current deed to 80% in my wife's name and 20% in mine now before selling the property two months from now. I think that would actually be worse than my wife doing the 1031 exchange alone and me joining on the new deed as 20% TIC. I need to be on the deed in some fashion, because even though we are not getting a mortgage. We are getting some of the money for the 20% in non-interest loan from someone in my family. I have also seen some on the forum say we could own the property jointly. Which should we look to do? It would seem doing a TIC on only the new property would be the safest.

Thanks

I would love to hear the opinions of the very knowledgeable @Bill Exeter and @Dave Foster .