The Foriegn Investment in Real Property Tax Act, better known as FIRPTA, provides that a buyer must withhold 10% of the amount realized by the foreign seller in the sale of an interest in U.S. real property. If the seller is a foreign person and the buyer fails to withhold, the buyer may be help liable for the tax. This class will address who is liable for the FIRPTA tax, the Seller's Disclosure, the Florida BAR/Florida REALTOR® Contract, what happens on a short sale, withholding escrow agreements and the definition of U.S. Citizenship. 

• Who is liable for the FIRPTA tax

• Definition of a U.S. Citizen

• How FIRPTA is addressed in a Seller's Disclosure and the FL Bar Contract and the rider

• FIRPTA withholding certificates

• What is a statement of Intent to Reside

CANCELLATION/NO-SHOWS
$25 fee for free classes or forfeiture of registration fee for cancellation within 3 days of course date or for no shows. If you wish to cancel your education class or course registration, please contact ORRA’s Professional Development Department at 407.513.7268 or e-mail education@orlandorealtors.org. Thank you.