What are the differences between buying real estate for myself, personally, and purchasing a real estate investment for my IRA?
There are four main differences between purchasing real estate for yourself and for your IRA: • Title – When purchasing an asset for your IRA, it must be properly titled to your IRA. Specifically, it must read ” Equity Trust Company Custodian FBO [Your Name] IRA.” Equity Trust will not accept any investments that aren’t properly titled. • Funding – When purchasing an investment (or any portion of an investment) for your IRA, funds must come directly from your IRA. Equity Trust will send the funds directly to the title company/closing agent/attorney per your instructions. • Expenses/Income – Any expenses associated with your IRA investment must be paid from your IRA and any income must be paid into your IRA. • Signatures – Documents pertaining to your IRA investments must be signed by Equity Trust, serving as custodian on behalf of your IRA.
Related Questions
- What are the differences between buying real estate for myself, personally, and purchasing a real estate investment for my IRA?
- What are the differences between buying real estate for myself and purchasing a real estate investment for my IRA?
- What is the difference between buying real estate for myself and purchasing real estate for my self-directed IRA?
