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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7166
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I am interested in the legality of selling a house I own to

Customer Question

hi, I am interested in the legality of selling a house I own to an llc that is within a self directed ira to turn into a rental home. would that be possible and/or legal?
Submitted: 1 year ago.
Category: Real Estate Law
Customer: replied 1 year ago.
Expert:  Irwin Law replied 1 year ago.

Your IRA Cannot Purchase Property Owned by You or a Disqualified Person.

One of the most common questions about real estate IRAs is: “Can my IRA purchase a property that I currently own?” The answer is always no. This would also apply to an LLC which you control.
IRS regulations don't allow transactions that are considered "self-dealing," and they don't allow your self-directed IRA to buy property from or sell property to any disqualified person, including yourself.