good time to consider selling your commercial property. One trigger is when you and your partners no longer see eye-to-eye. A second, you inherited the property and cannot be in business with your relatives.
Options when selling.
- Buy-out the other. The party that wants to hold the property could secure financing and give the other party his share of ownership in cash.
- Transfer ownerships. If multiple properties are owned you could move around the ownership percentages creating a one-party-owner-per-property scenario, which could be used in conjunction with securing financing.
- Sell the property. This could be used in conjunction with a 1031 tax-deferred exchange. Each party could secure another smaller property on their own to exchange into thereby realizing significant tax savings.