States Increasing Limits on Foreign Ownership of U.S. Real Estate: Navigating the Evolving Regulatory Landscape

Description

In response to national security and geopolitical concerns, a large number of U.S. states have either enacted or are considering enacting legislation governing the ownership of U.S. real estate by foreign entities. The state restrictions vary in their application to different types of land, buyers/investors, and covered jurisdictions. They also differ in requirements--some simply mandate disclosure of foreign ownership while others prohibit certain transactions outright.

One of the more well-known and controversial laws is the state of Florida's limits on the ability of foreign principals to own agricultural land and land within 10 miles of any military installation or critical infrastructure facility in the state. Additionally, the law specifically limits the ability of Chinese nationals to buy any Florida real property and includes certain civil and/or criminal penalties for Chinese nationals who buy the property and for those selling the property. This law is facing legal challenges.

Counsel should understand the current state of this regulatory scheme given the number of laws now in effect or being considered for enactment and the impact these will have on real estate transactions.

Listen as our expert panel provides an overview of state laws restricting foreign ownership of U.S. real property. The panel will address how the laws vary and take an in-depth look at some of the more notable laws of which counsel should be aware. The panel will discuss the impact these laws will have on real estate transactions and offer best practices for navigating this regulatory landscape.