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Re: Related parties -- in-laws -- TIC

The sole and separate property is generally a choice, and would be reflected in the way you hold title. Generally, community property would also be an election, but may be a default depending on state law. The proposed transaction would not be a related party issue if you hold and treat it as your sole...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 03-29-2010
Re: Can i sell business and 1031 exchange into other property and make tenant improvements to the property?

It depends on exactly what you mean by selling a retail store. Are you selling the business operation, the inventory, and/or the real estate? Or, are you selling the real estate and then moving your retail shop to the new location? Are you buying the new location (i.e. the real estate) or leasing, and...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 03-27-2010
Re: I bought my second property 2 month ago and now I would like to sell it using 1031 exchange, is it possible?

Hi Nataliya, It depends. The requirement for 1031 Exchange treatment is that you have the intent to hold for investment. A two (2) month hold period is generally too brief and you would run the risk that your transaction could be disqualified. However, if you can show that you did have the intent to...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 09-15-2009
Re: second homes and 1031 exchanges

[quote user="tommyo"] Have several clients who have 2nd homes and/or vacation homes. One client wants to sell their current 2nd home and buy a replacement property. Can they do this and qualify for the 1031? It depends. The property must be held for rental, or investment, or use in a business...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 08-25-2009
Re: selling our share of the property to a parent

[quote user="happyrenter"] We would like to sell one condo to a third party and then my in-laws want to take the money made from that sale and use it to buy us out of our share of the other condo. I'm assuming here that your in-laws are planning to structure a 1031 exchange on the sale...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 07-28-2009
Re: selling an exchanged property back to a parent

Yes, your parents can acquire the rental property back from you and not have any worries about their 1031 exchange. There has been more than enough time between the sale to you and the eventual buy back.

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 06-28-2009
Buying a Bank Loan as Like-Kind Replacement Property in a 1031 Tax Deferred Exchange

This issue has been coming up more frequently in today's market. The concept involves selling real property and buying a bank loan (note) as the replacement property. It would seem that this would not qualify for 1031 exchange treatment on the surface, but there is a way to structure this so that...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 06-24-2009
Re: Related party 1031 exchange

Hi Arnie, Generally, no. There are a couple of issues here. First, related party 1031 exchanges are O.K. There is a two (2) year holding period required in most cases when a related party transaction occurs. However, there are additional complications when the person completing the 1031 exchange is buying...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 06-15-2009
Re: 1031 Exchange, Conversion to Primary, and Divorce

Hi Stu, I'm sorry to hear about the potential divorce. The issue is that the taxpayer must have the intent to hold the replacement property for rental, investment or use in a trade or business. You would need to prove that you had the intent to hold as stated if you are audited by Federal or state...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 05-07-2009
Re: 1031 and Partnership Interests

I thought I would follow-up on this post with a copy of another blog post that I drafted today. Here you go: Partnership Issues Partnerships have always complicated 1031 exchange transactions. Partners often want to go separate ways and dissolve the partnership upon the sale of real property held by...

Posted to 1031 Tax Deferred Exchanges (Forum) by Bill Exeter on 04-03-2009

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