BUYING PROPERTY IN THE US?
Jul 10th 2007, 6:49 am
#18
BE Enthusiast
Joined: Nov 2006
Location: Oregon
Posts: 612
Re: BUYING PROPERTY IN THE US?
http://www.realtor.org/NCommSrc.nsf/files/Alien%20Land%20Ownership%20Guide%20(November%20200 6).pdf/$FILE/Alien%20Land%20Ownership%20Guide%20(November%20200 6).pdf
Last edited by farmerwife; Jul 10th 2007 at 6:51 am. Reason: link
Jul 10th 2007, 3:41 pm
#20
Boomshacalaca!!
Joined: Dec 2005
Location: South of the North Pole.......Colorado
Posts: 5,066
Re: BUYING PROPERTY IN THE US?
I did notice that there is a problem if you are a foreign subject of, (under wartime status), a nation which isn't at peace with the U.S. & Georgia - you may be restricted to be able to own property!! So, governments, think twice about pissing of Georgia.... apparently foreign citizens can't own nor lease airports in GA.
the most overlooked thing which sometimes occurs is tax withholdings from the sale of property... if you reside overseas, CO can withhold 10% of the proceeds to ensure you are not skipping out on taxes. Big shock at the closing table.
Jul 10th 2007, 11:54 pm
#21
BE Enthusiast
Joined: Nov 2006
Location: Oregon
Posts: 612
Re: BUYING PROPERTY IN THE US?
I think it pertains to if you plan to farm the land in some capacity, eg timber production, forestry, agriculture etc; especially if you hold it in a business entity. From what I can gather, In CO there are no restrictions nor reporting requirements.
I did notice that there is a problem if you are a foreign subject of, (under wartime status), a nation which isn't at peace with the U.S. & Georgia - you may be restricted to be able to own property!! So, governments, think twice about pissing of Georgia.... apparently foreign citizens can't own nor lease airports in GA.
the most overlooked thing which sometimes occurs is tax withholdings from the sale of property... if you reside overseas, CO can withhold 10% of the proceeds to ensure you are not skipping out on taxes. Big shock at the closing table.
I did notice that there is a problem if you are a foreign subject of, (under wartime status), a nation which isn't at peace with the U.S. & Georgia - you may be restricted to be able to own property!! So, governments, think twice about pissing of Georgia.... apparently foreign citizens can't own nor lease airports in GA.
the most overlooked thing which sometimes occurs is tax withholdings from the sale of property... if you reside overseas, CO can withhold 10% of the proceeds to ensure you are not skipping out on taxes. Big shock at the closing table.
http://www.fsa.usda.gov/FSA/newsRele...3_rel_005.html
It's interesting to consider, and it's probably what they're concerned about, but wealthy "foreign princes" (with bad intent) could buy millions of acres of farmland and end up controlling the food supply.
