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If you own and manage property of any kind, you understand the pleasure of claiming your own space in the world. If you own a large commercial or residential building, you understand the immense benefits and payoffs of your work. No matter how you spin it, real estate is a worthwhile investment. Very few assets provide reliable and steady returns like property does, and once you experience the benefits of investing, you truly won’t want to turn back. Despite theincredible benefits of investing in real estate, there are some drawbacks as well.
It can be difficult to navigate the legal side of such transactions, and it is easy for problems to arise. This is especially true when a property is located internationally or when your domestic property has international investors. This can create a myriad of problems for you as an owner oras an investor and can trigger federal involvement if not done correctly. If you invest in real estate abroad or have colleagues who invest in the United States from foreign countries, contact our firm. It is important that you have an experienced real estate attorney to represent your best interests and keep your transactions legal and transparent.
If you have chosen to invest in a property abroad, there is a significant amount of legal paperwork that needs to be done both domestically and in your country of sale. This is in addition to the legal paperwork that accompanies buying any sort of property. If you don’t have legal representation, it is difficult to navigate these contracts, as they contain complex and specific areas of law. Furthermore, you must navigate international law as well and ensure that your taxes are properly paid. In most cases, you are required to have a real estate attorney to work with the sellers or investment company abroad to ensure that everything is above board.
Hiring an expert from Avenue Law Firm helps you to ensure that you don’t encounter any legal surprises or hiccups later on that could halt the project or prevent you from staying involved.
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Avenue Law Firm’s team of experienced legal professionals is with you every step of the way. We have dedicated our practice to helping our clients receive the best legal representation every step of the way. If you need legal assistance with real estate law, personal injury law, and business law in New York, contact us to today.
If you are developing property in the United States and receive interested investors from abroad, it is important to know that there is a significant amount of red tape surrounding their ability to do so. Though their own taxes will be handled in their country and with their own lawyers, there are strict laws about who can own property here in the United States. The money you receive from foreign investors will need to be well documented and must be claimed accurately and clearly on your taxes for the project.
If you do not have an attorney on your team who specializes in real estate law, you’ll be in a more difficult situation. You may face significant penalties, fines, or even jail time for incorrectly documenting your foreign income. Our expert attorneys can provide niche industry experience that can save you heartache later on. We also review and redraft documents to ensure that you and your team are signing contracts that are in your best interest. Our industry-specific experience provides a significant asset to any real estate transaction, especially when there is an international investor in the mix.
It is important to understand that there are some risks to investing in international real estate. Though this is true of all real estate, it is often more difficult to understand the economy in other countries if you don’t have direct experience. Be sure to consider concepts such as:
There are many other factors to consider in international markets. When working with a real estate agent, even one who is experienced in the country of sale, it is likely that they won’t be able to give you the entire picture or be able to accurately advise you on the legal ramifications of your purchase. An experienced real estate attorney, however, is primed to do just that. Hiring an attorney from Avenue Law Firm is one way to help mitigate risk on international investments and ensure you are making an advisable choice with your money.
If you are planning to invest in a home abroad for personal use, it is important to understand the laws surrounding property ownership. It is entirely possible that your home will not be eligible tobe rented out when you aren’t there, depending on local ordinances and laws. Be sure to familiarize yourself with the laws surrounding land ownership so that you don’t accidentally break the law while abroad. Conversely, there are often benefits to land ownership. Your attorney will be able to advise you on these benefits, as well as point you to any other laws or regulations that you may need to be aware of.
If you are investing internationally or accepting money from an international investor, contact Avenue Law Firm right away. With our decades of combined experience in real estate law, we can help you navigate the complicated process of international investment transactions. As we operate digitally, we are well poised to work with clients all over the world and are ready to make your investment dreams a legal reality. Contact us today.
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