What limitations does using my IRA to buy property in Costa Rica have?
There are certain criteria that need to be adhered to as laid down by the Internal Revenue Service (IRS) regulations, which in the body that determines the rules that re to be followed by the IRA administration. As per these rules, any property purchased using the funds in your IRA are actually owned, for the benefit of your account, by your IRA fund administrator and not you personally. Later on, when the property is sold, the proceeds of the transaction including the profits are put back into your IRA. The idea is to ensure that neither you nor your immediate family must benefit from using the funds in your IRA.
