What is FIRPTA and Why Does It Matter In Real Estate Transactions?

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. [...]