Video Summary

What is the procedure for foreign sellers of Florida residential real estate? The buyer, the real estate agent and the closing, the agent are all responsible for withholding 15% of the gross selling price. One, a foreign or a non us taxpayer sells real estate in Florida. And I think that’s pretty well throughout the United States, on IRS regulation. If it is residential real estate and it is value in the price is less than $300,000 then. And the buyer is going to reside on the property, for six months, for the following two years, six months in each of the following two years. And we’ll sign an affidavit that they’re a US taxpayer and that they’re going to stay on the property and the value, and the purchase price is less than $300,000 and they sign the affidavit or form. Then every one’s excused from withholding the 15%, if the 15% is withheld, it is sent to the Internal Revenue Service and the foreign person can then file a tax return to see about getting a refund in the event that they’ve overpaid for their taxes. And that can be controlled by various treaties between the United States and whatever country the foreign person is from, uh, also how much they paid for the property. So, uh, there’s any number of things that they can possibly get their 15% back there’s, it is difficult and that they have to get a taxpayer ID number, which is a difficult task or a cumbersome task,  to do that in order to file the tax return. There’s also a procedure by which they can apply ahead of time to have the transaction exempted, or limit the amount of money that has to be paid depending on the, how much they paid for the property and that they do not have any gain. So, if you’re wanting to sell your property, and you’re not, you’re not a US taxpayer will give me a call and I’ll be glad to work with you as far as getting the sale and seeing what we can do about, not having to report it, or if you have to report it, the process that’s involved. My phone number is (727) 847-2288.

Video Summary

Does the water front property have riparian rights? Can the buyer build into the waterway for a dock or other structures? Real estate that borders on navigable waters is entitled to riparian rights or littoral rights. They’re basically the same littoral rights gave you a right to build a dock also to your rights are so that your neighbor cannot obstruct your view of the property. Your right to construct a dock is also governed by various governmental entities, as far as getting a permit. I know in Pasco county, they and various canals, they have building setback lines that extend out into the canals so that you have to comply with those. Whenever you build the dock, also you have to get if it’s a commercial dock or a very large dock, you have to get a permit from the department of environmental protection. Also when you construct the dock, you cannot obstruct your neighbors, right to access the channel or use the waterways. Speaking of the water, everyone has a right to public. Everyone has a right to, float their boat or to swim in the water. And that’s something that the right and the public that is held by the state. So someone can float their boat right up next to your dock. And if they can get in the water and it’s navigable, they can use the water and you can’t do anything about it. So those are some of your riparian rights, particularly when it comes to building a dock, you need to be sure you get your permits involved and you don’t want to build something that blocks your neighbor’s view or their access to the channel. If you have any questions about riparian rights, you can call me at (727) 847-2288.