1031 exchange for LLP's, Oil and Gas Royalties.


T

Texas Slacker

I tried to post this question a couple of weeks ago but evidently
screwed it up so if this shows up as a double post please forgive me.

I saw an advertisement for purchase of an oil and gas royalty trust,
United States situated properties. The advert stated that it was
eligible for 1031 treatment. I have bought property using a 1031 and
I have participated in royalty trusts but have never tried to marry
the two and am deeply suspicious of the advertisement. What is the
consensus of opinion?

While we are at it, why not LLP's or so far as that goes REIT's? Have
I been overlooking something? Thanks. Leo
 
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B

Brew1

I tried to post this question a couple of weeks ago but evidently
screwed it up so if this shows up as a double post please forgive me.

I saw an advertisement for purchase of an oil and gas royalty trust,
United States situated properties.  The advert stated that it was
eligible for 1031 treatment.  I have bought property using a 1031 and
I have participated in royalty trusts but have never tried to marry
the two and am deeply suspicious of the advertisement.  What is the
consensus of opinion?

While we are at it, why not LLP's or so far as that goes REIT's?  Have
I been overlooking something?   Thanks.   Leo
"Eligible for 1031 treatment" simply means that it is not on the short
list of excluded properties (like partnership interests); I would be
more concerned with what I was buying, and what would qualify as like-
kind property to it.
 

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