Absent proper planning, real estate purchased by a foreign investor could cost him or her millions of dollars more than the purchase price. Unlike U.S. residents, foreign investors do not get the benefit of the $2M exclusion (2006) when subject to U.S. estate taxes. With proper planning, foreign real estate purchasers can avoid paying U.S. estate taxes on their property located in the U.S.
Homeowners Petition Supreme Court for Writ of Certiorari to urge end to Bankruptcy Trustee practice of selling homes with claims of exemption on them, then asserting "mootness rule" to deny homeowners’ appeal rights. Orders by bankruptcy Judges appear to give official "stamp of approval." When homeowner appeals, Bankruptcy Trustee says appeal cannot be heard, because it is "moot," citing a "mootness rule." Some Appeals Courts follow this "Rule;” some don’t.
Under a new state law -- supported by the manufactured housing industry -- the Texas Department of Housing and Community Affairs will maintain a central data base where tax assessor-collectors can go to determine if all taxes have been paid before an ownership change occurs.
D.C. firm’s new briefing paper concludes that Economic Development Takings will disenfranchise homeowners, small businesses and residential tenants in America’s homes, row houses, and office parks.