Updated almost 11 years ago on . Most recent reply
1031 workaround
Had this question asked at a forum. Scenario: Seller owes $500k on a $5mm property, wants to sell and 1031 into like property but wants $1mm in cash without conventional refinancing (prepay) and without being penalized through the 1031.
Can a relative lien the property and upon sale and upon sale the new loan would essentially provide cash out?normal exchange?