Understanding FIRPTA (Foreign Investment in Real Property Tax Act) is crucial for both foreign sellers and buyers involved in U.S. real estate transactions. The following blog post serves as a comprehensive guide to navigating FIRPTA and its implications. FIRPTA, enacted in 1980, mandates a withholding tax on foreign persons selling or exchanging U.S. real property interests. [...]
Washington, DC, March 8, 2024 — Last night, during the State of the Union address, President Biden announced that the administration was moving forward with a previously rejected pilot program that would waive the requirement for lender’s title insurance on certain refinances. This misguided effort should only be seen as a purely political gesture that offers [...]
Washington, DC, March 7, 2024 — The announcement made today by the Biden Administration approving a pilot program to waive the requirement for lender’s title insurance on certain refinances in an effort to reduce closing costs for homeowners is a purely political gesture offering a false promise of savings for homeowners while exposing consumers, lenders, and [...]