[WSBARP] TIC agreement for 1031 ?
Rani K. Sampson
rani at overcastlaw.com
Mon Nov 8 13:06:50 PST 2021
Two friends are each selling their individual investment properties. Together, they'll buy a target property that they'll own 60/40.
The IRS will allow each of them to 1031 exchange into the target property IF they comply with Rev Proc 2002-22: They must not conduct business under a common name or otherwise hold itself out as a partnership or other form of business entity.
1. Do you have any templates for a TIC Agreement between these friends who will co-own property but will not be partners?
2. Any templates for a Property Management agreement (New LLC controlled by Friends that will collect & disburse rents)?
Thank you,
Rani K. Sampson
[cid:image001.png at 01D7D4A0.626F82D0]
23 S Wenatchee Ave #320
Wenatchee WA 98801
(509) 663-5588 x 108
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