| Title/Exchange Vesting |
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With few exceptions title to the Replacement Property must be held in the same manner as the title was held to the Relinquished Property.
Individual relinquishes--------Individual acquires ABC Partnership relinquishes------ABC Partnership acquires XYZ Corporation relinquishes------XYZ Corporation acquires The basic exception is disregarded entities for tax purposes. The new entity is disregarded for tax purposes when the Exchanger uses the same tax identification number. Mary Jones......Mary Jones, LLC Mary Jones......MV-MJ,LLC ABC Partnership.....ABC, LLC ABC Partnership.....MV-ABC, LLC 1031Tax Exchange Rules. |
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