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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6848
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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My partner is selling his commercial property that he has in

Customer Question

My partner is selling his commercial property that he has in a Tenants in common structure. About half of the investors want to do a 1031 exchange into another property. Can we purchase the other property in an LLC or do we have to purchase it in another TIC for the 1031 to be valid?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.
You should be able to buy the replacement property as an LLC using the money from the TIC sale, as long as all other 1031 requirements are met.
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