This was a commercial sale, handled through a national QI that received $375,000 from the buyer of Title to a 50% tenant in common interest in the relinquished property at the closing on the sale - I received nothing. I retained no interest in the buyers 50% title interest. The QI then applied these funds (less fees) towards the acquisition of an 81.5% interest in another tenant in common commercial rental property, all within the requisite time frames. The QI indicated no problem with the 1031 exchange of the 50% title as a valid relinquished property.
I hope this helps understanding of what happened.
