Remember, the IRA owns the investment, not the investor.
Example 1: On a title for IRAs, HSAs, and ESAs, the name would appear on the deed as “Advanta IRA FBO John Doe IRA #12345.” In the event you have partnered funds for the acquisition, the title would read “Advanta IRA FBO John Doe IRA #12345 as to a (percentage of ownership) % undivided interest.”
Example 2: On a title for qualified plans, the name would appear as “Jane Jones, Trustee of Health Care Profit Sharing 401(k) Plan John Doe Account #12345.” The titling for partnered funds would also list the percentage of ownership.
It is important that you seek the advice of proper counsel (such as an attorney or tax professional) when you title property in your real estate IRA. The rules and regulations regarding these transactions may vary from state to state. You want to ensure you are in compliance with any tax obligations or legal requirements.
Steps to complete a real estate purchase with your IRA: