Subject:  1031 Exchange

From:  Raquel
Date:  Wed, 07 Jan 2004

I was wondering what the process of converting a 1031 exchange to a primary residence is.

I recently exchanged a property I inherited for another and have rented it out for about 6 months. I am having a tough time keeping renters in there as the market value for the rent is very high. I thought perhaps I could move in there and rent out the home I am living in. Is that possible?

Thank you,
Raquel

Answer

Date:  Mon, 02 Feb 2004

Hello Raquel,

Messy, but possible.

Good luck!
Mike Gray

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