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Owen Boller
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Attorney refusing 1031 two days before closing

Owen Boller
Posted

As title suggests, attorney is refusing to help me with a 1031 exchange. I’ve chosen a property I want to buy which is like kind, and atty refusing to assist citing its “not enough time for the exchange company”. Couldn’t we just push closing back, or what actually has to be done before the closing that would take so much time? 

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Greg Scott
#1 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • SE Michigan
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Greg Scott
#1 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • SE Michigan
Replied

Your post appears to be leaving out details.

Why would an attorney prevent you from doing something because they are speculating what another company can or can not do?  I suspect they don't want to change all their docs.

Talk to a Qualified Intermediary now.  Fire your closing attorney if you have to .

  • Greg Scott
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