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irasmilo contributes a great deal to the Tax Strategies board. Why do you dismiss his reply so casually?<i/>

His analogy was incorrect. It may be that two LLCs loosely connected to a parent company can transfer funds legally, but that is not the same an individual refinancing the house and buying a new property. Here financing was given to one LLC with what apparently was a belief that the money would be used for the specific project. It is unclear to me that they would have any right to foreclose on the other, but that's way over my head. I remember Ira from long ago and he helped me with tax stuff, but I think he misunderstood the issue.
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