Thanks, Jack!I did some cruising through the home ownership board, too and found the following:"A third party can also acquire the property you wantand effect the transfer to you tax deferred. For example, someone may want toacquire your investment property, but you do not want his particular propertyin trade. A third party agrees to act as a "straw person", assists anotherbuyer entirely to acquire the property of the buyer interested in buying yourproperty, then within escrow the funds and title are transferred simultaneously sothat effectively a 1031 exchange for all parties can be achieved. This is a morecomplicated procedure and needs an experienced attorney and closing agent to ensurethat all IRS regulations are adhered to. One of my acquaintances participated in achain, so to speak, of such simultaneous closings. I believe that 14individual entities were involved. That was a very unusually 1031 exchange but feasiblefor skilled parties."Is this an accurate description of a 1031 exchange? I'm curious to know why this would/would not meet my parents' needs.Thanks again,Ann
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