Quit claim 1031

[Pam Schuster]

I have a property that is mine by divorce decree but 5 years ago when the divorce was final we never got around to doing a quit claim deed. I would like to do a 1031 exchange sometime in the next 10 years on this property. My question is there any problems or regulations with a property that has a quit claim deed before a 1031 can occur? Do the original owners(or can it be quit claimed) have to be the buyers in a 1031 exchange? Any help is much appreciated.

Sincerely,

Pam

[Bill Exeter]

Hi Pam, you should be fine recording the quit claim deed today. You are merely correcting title to what it should be. And, you will have another ten years of "seasoning" before you want to sell and 1031 Exchange. You are in good shape.