Title Considerations for Spouses in 1031 Exchanges
In 1031 exchanges, spouses often want to adjust how property is titled, especially when adding or removing a spouse on the Replacement Property (RP). While this can seem routine, changes to the title must be approached carefully to ensure the exchange stays compliant with IRS rules. General Guideline Keep the title consistent between Relinquished and Replacement Properties. • If both spouses are on the title to the Relinquished Property (RQ), both should be on the RP title. • If only one spouse was on the RQ, ideally only that spouse should b...
