1031 Exchange – Am I Able To buy my partner’s leasing device?We allow you to

1031 Exchange – Am I Able To buy my partner’s leasing device?We allow you to

Matthew Lockwood

Listed here is the situation:

1) i got myself household 17 years back in Tx for 45K. Paid down the note. Just offered for 90K. 45k money gains.

2) my spouse owes 45k on a homely home she bought years back together with her ex. He quitclaimed the homely home to her years back, before we came across her. She continues to have the note using their names upon it. He (rightfully therefore) is demanding as she was supposed to have done years ago that she get his name off the mortgage.

Am I able to purchase the household from my partner when it comes to 45K, therefore satisfying the 1031 change and clearly paying down her house? Continue reading “1031 Exchange – Am I Able To buy my partner’s leasing device?We allow you to”