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Updated about 9 years ago on . Most recent reply

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2
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Joel McNeese
  • Great Falls, MT
0
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Vacant land and property inspections in a self directed ira

Joel McNeese
  • Great Falls, MT
Posted

I am considering buying a chunk of vacant land inside an ira. The intent is to build a home on it in the future. My question revolves around the self dealing rules and management of the land while it is in the ira. Can the account owner or disqualified person inspect the property to see if maintenance is needed such as mowing, brush removal, and to verifying if trespassing is taking place? I understand we can not use the property, but do not know if inspecting the property on a monthly basis would cross the line of personally benefiting from the asset.

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