1031 exchange construction

Dear 1031x.com: I own a home and a piece of vacant property. I would like to  exchange my home for a retirement home on my vacant property. Can I do an  improvement exchange by getting a builder (or someone) to hold the title  to my vacant land while a retirement home is built, then exchange my  existing home for the land/retirement home property? If so, how do I  protect myself from the middleman running off with my property; and is the  transaction strictly a "hold" or is it a sale? Where can I find specifics?  Thanks, Dave.

Dear D:  What you are describing is not really a 1031 exchange.  When you eventually sell your home that sale will be governed by IRC section 121and not by 1031.  You cannot 1031 exchange your principal residence.  All you really need to do is hire a builder to build on your vacant land, then sell your home and move into the new home.  Sincerely,

Steve Hickox
Attorney / President