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Investors & landlords
Yes, that's exactly how the transaction was handled. I was told by real estate attorney that my daughter could become an additional investor in the new property as long my portion of the investment came from my single-member LLC and the single-member LLC would be owner which is how title is currently recorded. I could not create a partnership with the daughter since the IRS would consider this a different tax structure that was in place on the 1031 property sold . I was advised to sell her part of my LLC or create a joint-venture agreement. Just trying to find out what is the best strategy. Thanks
‎October 7, 2024
6:11 PM