| Foreign Investment in Real Property Tax Act FIRPTA |
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| In the year 1980, Congress enacted the Foreign Investment in Real Property Tax Act (FIRPTA). The law can be found at 26 U.S.C.S. § 1445. Briefly stated, the law provides that if a seller of real property is a "foreign person," the buyer must withhold a tax equal to 10% of the gross purchase price, unless an exemption applies under the law.
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| Right-to-Farm Laws |
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| Almost every state has enacted some type of right-to-farm law. In essence, the laws protect farmers from lawsuits by neighbors. Typically, the laws create a presumption that a farmer's existing agricultural pursuits do not create an actionable nuisance.
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| Judgment Liens and Other Types of Liens against Real Property |
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| Most agreements for the sale of real estate contain a clause that requires the seller to convey "marketable title" or "merchantable title" to the buyer. In essence, "marketable title" refers to a title free of encumbrances. A lien is an encumbrance upon real property, and the existence of a lien on real property renders the title unmarketable. More... |
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| Inspection and Use of Fireplaces |
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| For many home buyers, a fireplace is an attractive feature. In connection with the purchase of a home, it is important that the home inspection include the fireplace or fireplaces located in the home. More... |
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| Disclosure of Material Facts and Hidden Defects |
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| When a buyer is looking for a dream home, the last thing he or she expects to find is a material defect that will change the dream into a nightmare. To avoid that scenario, a real estate agent has an obligation to make a full and timely disclosure of all known facts that are relevant or material to the condition and characteristics of the property under consideration. More... |
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