Bob MaleckiPoster#3 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
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Can my SDIRA file chapter 11 bankruptcy?
Just curious-- my checkbook controlled LLC owned by the IRAs of multiple family members acquired a rental property in WA state which is in forclosure. The former owner and signor on the loan gave it to our LLC via quit claim deed. So now he's on the line for the loan buy my SDIRA owned LLC is the owner on title. We intend to sell the property to pay off the loan and reap the equity, but if timing goes sideways, could our LLC file chapter 11 BK to stall the sale? I figure the answer is 'no', but thought I'd put it out here for any of the IRA experts to opine