Reply to Married couple buy a house, only one is on the title. Why?

Forum Index » Real Estate

Reply to "Married couple buy a house, only one is on the title. Why?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It can be complicated for a foreign person to own US property.  For example, when they sell it, if the sales price is over $300,000, then the buyer generally has to withhold 10% of the purchase price and pay it to the IRS.  They may be more likely to owe tax on a sale as well.[/quote]

Foreigner here. This is not true. I have bought and sold property in the US with no such issues.[/quote]

There can be ways to avoid issues, but you should google FIRPTA if you really believe there are no special requirements for foreigners selling US real estate.

In fact, pretty much everyone is asked to sign a certification these days that they are a US citizen when selling a house, because that's the first thing to do to avoid FIRPTA withholding.[/quote]

Keep in mind that "foreign person" means something specific in the context of FIRPTA: for individuals, it refers to NON-RESIDENT aliens. Resident aliens like green card holders and certain visa holders (the specifics of this one get complicated) are not subject to FIRPTA.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics