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Level 3
December 7, 2019
Solved

In a 1031 exchange, how long do the clients have to own the property before it is exchanged for another property?

  • December 7, 2019
  • 7 replies
  • 37 views
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Best answer by TaxGuyBill

I would say at least an hour.  :smiley:

As long as there is some evidence that it is used for business (or the intent for business use) there isn't a holding limitation.

7 replies

December 7, 2019

I would say at least an hour.  :smiley:

As long as there is some evidence that it is used for business (or the intent for business use) there isn't a holding limitation.

Level 7
December 7, 2019
There was a case a dozen years ago where a guy did an 1031 and then received an unsolicited high offer to sell his new property.  Ruling was that he acquired the new property with intent to sell, not to hold, so he lost his 1031
George4Tacks
Level 15
December 7, 2019

I agree with TGB. 

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