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1031 Exchanges

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Simon Gill
  • Investor
  • Los Angeles, CA
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56
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1031 Exchange into New Purchase

Simon Gill
  • Investor
  • Los Angeles, CA
Posted Oct 4 2020, 09:06

My business partner and I are planning to buy a commercial building in Nevada. He is currently selling his commercial building in Washington and 1031 exchange into the Nevada deal. In order for the 1031 to take place, is he required to carry over his existing LLC or can we create a new LLC for Nevada and he move his funds without moving his existing LLC?

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