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I’m Four Months Into a 1031 Exchange—Now It’s All About Finding the Best Deal in the Haystack
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two […]
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1031 Exchanges
HomeForums1031 Exchanges1031 Exchange into TIC with Family member
Jesse P.'s profile image
Jesse P.'s profile image
Jesse P.
  • Real Estate Agent
  • from Santa Cruz, CA
  • Member since Feb 7, 2017
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Jesse P.'s profile image
Jesse P.'s profile image
Jesse P.
  • Real Estate Agent
  • from Santa Cruz, CA
  • Member since Feb 7, 2017
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Jesse P.
  • Real Estate Agent
  • Santa Cruz, CA
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1031 Exchanges

1031 Exchange into TIC with Family member

Jesse P.
  • Real Estate Agent
  • Santa Cruz, CA
Posted May 11 2020, 03:20

Can I 1031 a property and purchase a fractional interest (TIC) in another property a family member currently owns?

I would clear $300K from the relinquished property sale of $700k.

The replacement property has appraised for 1.25m and has a mortgage of $825k

-If possible, are there restrictions on how the $300K from the relinquished property is used? For example, could $100k be used for delayed maintenance and the residual to pay down the mortgage?

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