(The following is an excerpt from our 1031 Advisor newsletter located here )
Problem: A Partnership currently owns property to be sold. Some of the partners wish to treat the sale as a tax deferred exchange and to re-invest the proceeds into a like-kind property. Some of the other partners wish to cash out of their investment and not acquire additional property or, in the alternative, simply part company and/or invest the proceeds on their own. The Partners come to you and ask for your advice.
Solutions: Which of the following solutions will be treated as a valid Section 1031 Exchange?
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