Splitting a 1031 between partners

[Andrew Ware]

I have a friend who is a part owner of a triplex. Neither owner lives there so it is clearly and investment property. Investor 1 would like to cash out investor 2 would like to roll his money into a duplex that he wants to live in. I'll say that the current house is worth $200k and they are 50/50. The question is about the rules of a 1031. Would this scenario work? His partner takes $100k and pays capital gains. My friend's share is $100k. As long as he buys a property where the investment unit is greater value than 100k he should be good? (Of course assuming he follows the usual timeline of a 1031). Also is there anything special he should know about how to do all of this?