1031 Exchange Entity Question

[Greg Junge]

I purchased a buy and hold propery 5 years ago for cash in my name only. Last year I got married and put this property into a LLC with my wife, and in our trust.

I'm looking to 1031 this property now but wanted to know if I needed to wait a certain period of time to do this? I've heard some people say there's not a clear and cut rule about how long I have to own it before 1031'ing it again, and I've heard 2 years also.

My questions are:

1) Is there a seasoning period for owning a property before 1031'ing it, to not be labeled a dealer?

2) Independent from question 1, would changing it from my name to a LLC matter at all if I decided to 1031 it, one year after changing entity structure?

Thanks for your help, always appreciated!

Greg Junge