If you sell a property you own, then you will need to file a 1099-S form for tax purposes. According to REtipster, this form is part of the closing process and reports your profits from the sale. The IRS requires you to file a 1099-S form to ensure you pay all...
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Real Estate Law
How does a 1031 exchange work in New York?
Any foreign holder of real estate in New York likely knows just how tricky tax laws surrounding purchases and sales can be. Many owners want to avoid a sizable payment to the U.S. government come April 15th and choose to participate in a 1031 exchange instead. In New...
3 things to know when investing in U.S. real estate
Many people from outside the United States find it worthwhile to invest in American real estate. This is due in part to the fact that American real estate is relatively stable and poised for continued economic growth. You do not have to hold a green card or U.S....
Property boundary lines and due diligence in New York City
Real estate buyers may overlook the importance of boundary lines during the due diligence process. Purchasing property in New York City without understanding its borders could result in a surprise after moving in. Sidewalk trees, for example, may belong to the...
LLCs offer several benefits for foreign condo buyers in NYC
Whether you are looking to invest in a New York City property or want to buy a home for personal use, if you are considering a condo purchase, creating a limited liability company may offer several important advantages. In addition to offering personal liability...
Top options for buy and flip in 2020
It is a common investment strategy in the U.S. market to buy a property with the intent of quickly reselling it at a higher price. The so-called “buy-and-flip” approach can be profitable here in the U.S., but it is often less so when looking at property in other...
Pandemic effects international real estate market
There is much written recently about those living in New York City fleeing to the suburbs as they ride out the pandemic. It will also likely be the case with other urban markets worldwide, leading to a buyers’ market in cities when things truly open back up. Those not...
Real estate ownership in Mexico
The Mexican government has many similarities to that of United States, specifically when it comes to property ownership. Individuals can and do own private property in Mexico. However, as in many of these types of situations, the similarities are mostly on the...
Foreigners are buying up real estate in NYC
People all across the world dream of waking up in New York City. For some people, a vacation or business trip might suffice. For more than 8 million others, New York City is home. The longer people live in New York City, however, the more they come to realize that...
The challenges relating to inheriting foreign real estate
Many New York residents have family and loved ones in Brazil. When an individual passes away and bequeaths real estate to you or others in the United States, Brazilian laws can affect who actually receives that property. We often advise clients with legal matters...