[WSBAPT] 1031 exchange question

[Craig Gourley]

Hi Betsy,  The answer is no.  The license is not an interest in real property and therefore can not be exchanged at all.  Under current rules, only real property can be exchanged.  Hope that helps.  Craig

Gourley Law Group
Snohomish Escrow
The Exchange Connection

1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065
360.568.8092  fax
Craig at glgmail.com<mailto:Craig at glgmail.com>


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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of betsy at bwattorney.com
Sent: Monday, June 7, 2021 9:49 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] 1031 exchange question

I am probably wording this incorrectly or awkwardly at best, but here is my inquiry:  Can the proceeds from the sale of a business license (I-502 marijuana license to be exact in this case) be used to buy income property in a 1031 exchange?

Thanks for any insight provided!



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