Christopher K. Caswell Real Estate Law Blog on Lawyers.com

Everything that a foreign buyer of real estate needs to know about taxes in one word!

Friday, January 7, 2011 by Christopher K. Caswell

Photo of Christopher K. Caswell

When a foreign buyer of real estate in the United States thinks about buying US
real property, it is just the beginning of a complicated and confusing journey
through real estate advice, legal advice and accounting and bookkeeping advice.
So what is the one word?

How do we give a short but somewhat complete summary of
tax issues facing a foreign buyer of the United States real estate? Honestly, we
can’t. But there is one word that we can use to describe the issues and the
advice that a foreign buyer should seek.

That word is “Yes”. Yes, there are tax
issues that need to be addressed:

1. BEFORE the actual purchase of the real
estate.

2. In the ownership of the real estate.

3. In the rental of the real
estate.

4. In the sale of real estate.

5. After the death of the foreign owner of
the real estate.

6. Relating to certain elections that should be made.

7.
Relating to the residency status and choices of the foreign owner.

No, a foreign
owner should not go to contract or purchase until they get proper advice on ALL
of the above issues. Got your attention? Good, now go to our website for our
more detailed white paper on these issues.

 
Posted at 21:39 PM
Topic: Real Estate
Lawyers.com Blog

Lawyers.comSM Blog

Get an inside view of
Lawyers.com

Blog Topics

Bloggers

Archives

Recent...