ForumsReal Estate InvestmentsCan Solo401K Trust Compensate an Assignor for Assigning Purchase Contract

Forums Solo 401k Real Estate Investments Can Solo401K Trust Compensate an Assignor for Assigning Purchase Contract

  • Can Solo401K Trust Compensate an Assignor for Assigning Purchase Contract

    Mark Nolan replied 5 months ago 2 Members · 2 Posts
  • 1 Reply
  • Cheryl S

    Top SubjectSolo 401k,Real Estate Investments
    Top ForumsSolo 401k, Real Estate Investments

    Cheryl S

    Cheryl S

    Top SubjectSolo 401k,Real Estate Investments

    February 4, 2024 at 7:27 am

    In reference to assignable contract to buy real estate (where the contract buyer is Trust and/or Assigns). Can Solo401K Trust as the Assignee compensate the Assignor with the usual and customary assignment fee at closing? If yes, are there any disqualifiers on who can be the the compensated Assignor and do Solo401K have Assignment of Contract template?

    Cheryl S
  • Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    Mark Nolan

    Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions

    February 8, 2024 at 3:43 pm

    If the property is being assigned to the solo 401k, then the solo 401k would be the assignee. Rocket lawyer provides contract assignments that can be used for solo 401k real estate investments. The assignee (the end buyer) generally pays the assignment fee. Therefore, the solo 401k would pay the assignment fees and the wholesaler cannot be a disqualified party such as the solo 401k participant, her spouse, her children, her parents, her business, etc.

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