Can a 1031 exchange be used to buy out another owner of a residential rental property?
Say two people own one rental house 50/50. There is no assumed business name, LLC or partnership. The deed has both their real names on it.
They have never filed as a partnership, they split the rent / expenses and each filed their own schedule E.
One of the owners would like use the proceeds from the sale of another rental property to buy out the other owner.
Is this permitted? Thanks in advance