Legal Question in Real Estate Law in California

Can I sell my rental real estate to my Brother-in-law in a tax free exchange?


Asked on 6/25/10, 10:10 am

3 Answers from Attorneys

Nope.

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Answered on 6/25/10, 2:10 pm

Sorry, I answered too quickly. If you mean in a 1031 exchange, then sure. The property you sell can go to anyone. If you mean, however, would it fall under any of the family-based tax exemptions for real estate transfers, then the original answer is correct. And in either case the property would be subject to transfer taxes and Prop. 13 reassessment.

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Answered on 6/25/10, 2:13 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

.....and, of course, the transaction would have to meet all of the other requirements for 1031 exchanges,

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Answered on 6/25/10, 2:34 pm


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