A Piece of Paradise: Advising US Owners of Foreign Real Estate

Verrill's Ruth Mattson and Matthew Leonard recently authored an article for WealthCounsel Quarterly entitled A Piece of Paradise: Advising US Owners of Foreign Real Estate. Travelers often seek meaningful souvenirs, but some opt for lasting investments like foreign real estate, which remains under the jurisdiction of local laws. Purchasing property abroad can involve complex legal issues, making it essential for buyers to consult both U.S. and local advisors to avoid pitfalls. U.S. purchasers should focus on four key areas: engaging local counsel, understanding tax and reporting obligations, determining ownership structure, and planning for inheritance.

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