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Updated over 2 years ago on . Most recent reply

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Pratap Koppula
  • Accountant
  • Los Angeles
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1031 Exchange - Purchase of Single Member

Pratap Koppula
  • Accountant
  • Los Angeles
Posted

Under Section 1031, can we purchase a single-member LLC which owns real estate, or does it need to be a real estate asset with a grant deed under only the company that sold the asset?


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Linda Weygant
  • Investor and CPA
  • Arvada, CO
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Linda Weygant
  • Investor and CPA
  • Arvada, CO
Replied

It is **possible** but it has to be structured just right. A single member LLC is a disregarded entity, so depending on how things are titled will depend on whether or not this will work.

I've seen @Dave Foster weigh in on this topic in the past, so hopefully he can pop in here and let you know.

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