[WSBARP] 1031 Question

[Nestor Gorfinkel]

Co-ownership is not an issue as long as the "Seller" is an owner-buyer of the exchanged property. That said make sure it is a like-kind exchange and they are not buying a residence from the proceeds of an investment property. Speak to the exchange company.


Cordially,

Nestor Gorfinkel, Attorney at Law
Licensed in Florida & Washington State
Florida Civil-Law (International) Notary

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Catherine Clark
Sent: Wednesday, May 1, 2024 2:12 PM
To: WSBA Real Property Listserve <wsbarp at LISTS.WSBARPPT.COM>
Subject: [WSBARP] 1031 Question

All:

May a person who elects a 1031 Exchange, use the proceeds from the sale of the first property to purchase the second property with another person?  If so, what are the rules for such a process.

All direction appreciated.

Thank you.


Catherine "Cat" Clark
Law Office of Catherine C. Clark PLLC

110 Prefontaine Place South, Ste. 304

Seattle, WA 98104

Phone: (206) 409-8938
Email: cat at loccc.com<mailto:cat at loccc.com>



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