Property for non resident
Sep 28th 2002, 11:42 am
#1
Thread Starter
Joined: Aug 2002
Posts: 62
Property for non resident
My husband and I were thinking of buying a house.
Does anybody know anything about this process? Is there a different tax for non residents? What if we were to rent it out as a holiday spot for no more than say 20 times a year? this would be the only property we own. What if my husband suddenly loses his job (h-1B visa) do they give you time to sell before you must leave the country, or must you sell it before leaving the country? Are the laws different for this from state to state? Has anybody had any experience with this type of thing?
Any advice or knowledge is much appreciated.
Does anybody know anything about this process? Is there a different tax for non residents? What if we were to rent it out as a holiday spot for no more than say 20 times a year? this would be the only property we own. What if my husband suddenly loses his job (h-1B visa) do they give you time to sell before you must leave the country, or must you sell it before leaving the country? Are the laws different for this from state to state? Has anybody had any experience with this type of thing?
Any advice or knowledge is much appreciated.
Sep 28th 2002, 12:33 pm
#2
Guest
Posts: n/a
Re: Property for non resident
Brought to you by USA Immigration Services at
http://www.usais.org/a/1062
There is no different tax for nonresidents.
You may keep the property even though you must leave the country.
The Federal laws overrule the state laws.
"mmm" wrote in message
news:428236.1033256535@britishexpats-
.com...
> My husband and I were thinking of buying a house.
> Does anybody know anything about this process? Is there a different tax
> for non residents? What if we were to rent it out as a holiday spot for
> no more than say 20 times a year? this would be the only property we
> own. What if my husband suddenly loses his job (h-1B visa) do they give
> you time to sell before you must leave the country, or must you sell it
> before leaving the country? Are the laws different for this from state
> to state? Has anybody had any experience with this type of thing?
> Any advice or knowledge is much appreciated.
> --
> Posted via http://britishexpats.com
http://www.usais.org/a/1062
There is no different tax for nonresidents.
You may keep the property even though you must leave the country.
The Federal laws overrule the state laws.
"mmm" wrote in message
news:428236.1033256535@britishexpats-
.com...
> My husband and I were thinking of buying a house.
> Does anybody know anything about this process? Is there a different tax
> for non residents? What if we were to rent it out as a holiday spot for
> no more than say 20 times a year? this would be the only property we
> own. What if my husband suddenly loses his job (h-1B visa) do they give
> you time to sell before you must leave the country, or must you sell it
> before leaving the country? Are the laws different for this from state
> to state? Has anybody had any experience with this type of thing?
> Any advice or knowledge is much appreciated.
> --
> Posted via http://britishexpats.com
Sep 29th 2002, 1:57 pm
#3
Guest
Posts: n/a
Re: Property for non resident
mmm wrote in message news:...
> My husband and I were thinking of buying a house.
Canadians do it all the time. I don't see why other foreigners can't.
> Does anybody know anything about this process? Is there a different tax
> for non residents?
If you mean property taxes, no. They are the same.
> What if we were to rent it out as a holiday spot for
> no more than say 20 times a year? this would be the only property we
> own. What if my husband suddenly loses his job (h-1B visa) do they give
> you time to sell before you must leave the country, or must you sell it
> before leaving the country?
You can do whatever you want with it. There are no restrictions on
foreigners owning homes in the US.
> Are the laws different for this from state
> to state? Has anybody had any experience with this type of thing?
This is covered under federal law, which overrides state law.
> My husband and I were thinking of buying a house.
Canadians do it all the time. I don't see why other foreigners can't.
> Does anybody know anything about this process? Is there a different tax
> for non residents?
If you mean property taxes, no. They are the same.
> What if we were to rent it out as a holiday spot for
> no more than say 20 times a year? this would be the only property we
> own. What if my husband suddenly loses his job (h-1B visa) do they give
> you time to sell before you must leave the country, or must you sell it
> before leaving the country?
You can do whatever you want with it. There are no restrictions on
foreigners owning homes in the US.
> Are the laws different for this from state
> to state? Has anybody had any experience with this type of thing?
This is covered under federal law, which overrides state law.
Sep 30th 2002, 3:58 am
#4
Guest
Posts: n/a
Re: Property for non resident
I was unable to buy a house before I became a permanent resident because I
couldn't find anyone to approve me for a mortgage before that.
Of course, not everyone needs a mortgage to buy a house...
"mmm" wrote in message
news:428236.1033256535@britishexpats-
.com...
> My husband and I were thinking of buying a house.
> Does anybody know anything about this process?
couldn't find anyone to approve me for a mortgage before that.
Of course, not everyone needs a mortgage to buy a house...
"mmm" wrote in message
news:428236.1033256535@britishexpats-
.com...
> My husband and I were thinking of buying a house.
> Does anybody know anything about this process?
