Doing a 1031 from duplex to sfh
Hello,
If I have a duplex with a parternership as both tenant in commom amd we both decide to do a 1031 where I buy my own sfh and he buys his own sfh which breaks or parternership. Can we still do a 1031 and each partner goes on there own and do both properties have to be bought at the same time?
Thanks
Horacio G.
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
As long as you were each paying your taxes on the property in your own name you’re good there. You both have 45 days to identify a property or 3. Then you both have 180 days to finish. They don’t have to be the same days or properties. Just the same deadlines.