Updated about 6 years ago on . Most recent reply
1031 exchange question
I own a property with a partner 50/50 in an LLC. We are selling out of that home and would like to take our proceeds and buy 2 places separately. Has anyone ever heard of a drop and swap where 2 LLC's are created from the existing LLC and both members become tenants in common and therefore are allowed to take their proceeds in the new LLC's and buy their own properties? Any advice is appreciated!