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Updated about 5 years ago on . Most recent reply presented by

Dale Going's profile image
Dale Going's profile image
Dale Going
  • Rental Property Investor
  • from Toms River, NJ
  • Member since Dec 10, 2020

User Stats

5
Posts
3
Votes
Dale Going's profile image
Dale Going's profile image
Dale Going
  • Rental Property Investor
  • from Toms River, NJ
  • Member since Dec 10, 2020
Dale Going
  • Rental Property Investor
  • Toms River, NJ
3
Votes |
5
Posts
1031 Exchanges

1031 Exchange question

Dale Going
  • Rental Property Investor
  • Toms River, NJ
Posted

Hi,

New here, and have a question. . . I own two condos (10+ years and used as vacation rentals) in FL with my ex-husband. We no longer want to be partners. One is currently for sale and under contract with closing early January. I'm thinking of buying him out of the other condo we jointly own. I'm wondering if it's possible/legal to use the cash from the one condo sale and do a 1031 exchange to purchase/buy him out of his half of the remaining condo. Both condos are owned personally and not by an LLC.

Thank you in advance,

Dale

  • Dale Going
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