Bad Deal - Fire with no Insurance - options to get out from Under

[Jim Goebel]

What are my options to get out from under an asset that had a major fire, where we had no insurance?

This asset (now a liability) is owned under a self directed ROTH IRA.

I know there may be follow on negative consequences to just walking away from something like this (for instance does Des Moines drop the hammer on us in other ways, for instance scrutiny with our other rental properties) ----

I'm exploring giving this property and lot away but I'm guessing Habitat for Humanity only wants it if it can be built on and if the burned house is already cleared.

Another contact said something about QUIT CLAIMING the house to an out of state LLC.

Anyone have any thoughts? 

Thanks!!!!