Thursday, July 17, 2014

interest as joint tenant real estate with son and solo 401k





http://www.mysolo401k.net/SelfDirected401k.html


BACKGROUND AN QUESTION: I am purchasing a fixer house with two other people, one of which is my son. I want to hold title as follows:
123 Gardens solo401K Trust, 1/3 interest and Jason Jay (my son), 1/3 interest as joint tenant and Pat 1/3 interest as tenant in common.

Will this work?  Of course, title would draw the document to have the wording correct but my concern is can my 401k and my son have a joint tenancy.

ANSWER: Purchasing real estate with a solo 401k and a family member is not deemed prohibited provided the tenants-in-common solo 401k rules are followed.

Please read the following and then give us a call to discuss further at 800-489-7571.  

http://www.isolo401k.com/tenants-in-common.html

http://www.mysolo401k.net/blog-for-mysolo401k.html?entry=purchase-property-with-solo-401k

Lisa in Ohio

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