FIRPTA Requirements Bother Some Sellers

These days, with identity theft stories almost a daily occurrence in the news media, people tend to be a lot more careful about giving out identification information such as social security numbers. Heightened concern about such matters has been the cause of more than a few glitches in real estate transactions. This is because of the requirements of the Foreign Investment in Real Property Tax Act, fondly known to those in the real estate business as FIRPTA.

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