1031 Transfer Question

[Joseph O'Sullivan]

Hi All,

As I am reading and listening to podcasts and soaking in info for my first rookie deal, I have been learning the basics on the 1031 transfer concept that can come into play down the road.

The question that occurred to me (apologies if it is obvious) is about state lines.  Can I sell a property in one state and then do the 1031 transfer to a bigger property in another state withing the 45 day window, or does the transfer have to stay within the same state?

Thanks.

Sincerely,

Joe

[Bill B.]

You have 45 days to identify the new property and 180 days to close. It can be in any state plus a few areas outside the states. 

There are three:

1. Guam
2. U.S. Virgin Islands
3. Northern Mariana Islands

Ps. There’s a short but informative book written by @Dave Foster as well as some YouTube videos. I did my first 1031 last year and he was very helpful. It’s a very powerful tool.