In a 1031 exchange, a relinquished property could be sold to anyone – even a related party. But if you’re selling to a related party, know that you’ll have to disclose that on form 8824 and that the related party may have to hold the property for two years after acquiring it. If they sell that property too quickly they could end up foiling your exchange.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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