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 Purchase a Lot Using Your Self-Directed IRAYou may use your self-directed IRA (SDIRA) to purchase a lot at Ocean Star Estates. Please read the following information carefully. DepositIf you will be purchasing a lot using your self-directed IRA, there is no deposit required to reserve it. Full payment for the lot will be paid from funds in your self-directed IRA. Personal funds cannot be used to reserve a lot if you are paying for the lot entirely using your self-directed IRA, because this will be construed as a self-dealing transaction and thus a prohibited transaction under IRC section 4975. Therefore, you must decide at the time you are reserving a lot whether or not you will be using your self-directed IRA to purchase. Note: if interested, please discuss with your custodian the option of paying for part of your lot using personal funds. Setting Up a Self-Directed IRAYou may reserve a lot even if you haven't selected a custodian yet or your IRA account is not yet set up. However, we ask that you submit your account information to us no later than two weeks following the signature date on your reservation agreement. We only need to know the custodian's name, your name as it appears on the account, and the account type and number. For example, Equity Trust Company Custodian FBO Joe R. Smith IRA Account Number 12345. The account name may differ between custodians. Your funds do not have to be in the account to give us this information. If you have a representative who you are working with, we ask that you provide us with her/his name and contact information as well. We recommend talking with Equity Trust Company if you are still in the process of selecting a custodian. You may contact Tim Debronsky at: Equity Trust Company Self-Directed IRA Limited Liability CompanyIf you will be purchasing a lot using your SDIRA LLC, there is no deposit required to reserve it. Full payment for the lot will be paid from funds in your SDIRA LLC. You may reserve a lot even if you haven't set up
your SDIRA LLC, yet. We recommend contacting Guidant
Financial Group if you are still in the process of
selecting a facilitator: If you will be setting up a self-directed IRA LLC, please be aware that the business must be registered by the Dominican Republic before you can receive your title. It typically takes two to three months to have a business registered (visit Titling Your Property for more information).
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