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<p class="MsoNormal">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
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>betsy@bwattorney.com<br>
<b>Sent:</b> Monday, June 7, 2021 9:49 AM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] 1031 exchange question<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks for any insight provided! <o:p></o:p></p>
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