Can a 1031 exchange be used to pay off a mortgage?
Could you clarify, in the realm of cryptocurrency and finance, if a 1031 exchange can indeed be leveraged to settle or pay off an existing mortgage? I'm curious to understand the practicality and feasibility of this approach, given the unique nature of both a 1031 exchange and mortgage repayment. Are there any potential benefits or drawbacks to this method, and what considerations should one make before pursuing such a course of action?