FOUR RULES FROM AN ATTORNEY WHEN INVESTING IN U.S. REAL ESTATE |
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When a foreigner invests in United
States real estate it can be a very rewarding experience,
provided that the investor follows certain precautions.
As attorneys specializing in the representation of foreign
investors, we are often asked where there are some rules
to follow in acquiring United States real estate. The
first rule we have in our office is "Do Not Sign The
Contract Without First Reviewing It With Your Attorney."
All of your rights and obligations with regard to the
property are spelled out in the contract, and can only
be negotiated prior to signing the contract.
Our second rule is "Know What The Tax Consequences Are
Before Purchasing." United States income, gift and estate
tax laws can be minimized or avoided by determining
how title to property will be held, and the use of an
offshore corporation as the owner of the property may
avoid the imposition of estate taxes upon the death
of the foreign investor.
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Our third rule is "Determine Whether Your Investment Objectives Will Be Met By The Type Of The Investment." Markets and type of real estate investments vary tremendously within the United States, and certain types of investments may have immigration law advantages while others may not.
Our fourth and final rule is to "Obtain Competent and Qualified Legal and Tax Counsel Prior to Concluding Any Transaction." A knowledgeable attorney can greatly facilitate real estate acquisitions.
By following these rules the foreign investor should be on the road to success.
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