Thanks for the replies guys. Because I am not IRA savvy and lack IRA knowledge, I fully relied on the CU to perform their fiduciary duties. I again, took the representative’s advice not to worry, funds being wired remains an IRA Asset. So, the purchase is an IRA Asset, my thoughts. This advice was what prompted us to pursue the transaction.
Is there still a possibly to re-characterize this transaction if I were to seek a self-directed IRA firm to assist me? Question, can we still amend the mortgage to read for benefit of our IRA via a Grant Deed?
In response to the IRA funds deposited into our savings and then wired, was not authorized. We authorized a withdrawal from our regular savings account for the difference needed to meet the amount requested to be wired.
Nina