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Ask Tina Your Own Question
Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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If I sell my house to someone who will not sign that they

Customer Question

If I sell my house to someone who will not sign that they will be living in this house more than 50%, does the title company have to send a certaint per cent of the sales price to the IRS ??
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.
No. Why do you think there would be such an obligation on the part of the buyer? Who told you that would be the case?
Customer: replied 1 year ago.
The Title company and the real estate agent
Customer: replied 1 year ago.
Can you please verify , thank you
Expert:  Irwin Law replied 1 year ago.
Did you purchase the home using special government financing for owner occupants only? If so, how long have you on the home? Can you attach a copy of correspondence you have received from the title company or the real estate agent which points out this problem?
Customer: replied 1 year ago.
The house was bought 4 years ago; no special circumstances, I have a copy of the settlement statement only, it has a line FIRPTA, 15 per cent withholding to IRS
Customer: replied 1 year ago.
Can u please reply again, dont seem to have received your last message, thank you
Customer: replied 1 year ago.
The real estate agent and the Title company, seem to believe that it is normal and regular to 15% FIRPTA witholding for the IRS, is this so ??
Customer: replied 1 year ago.
That is, if the buyer does not sign he will be living in the house more than 50 %, excuse the resending
Expert:  Irwin Law replied 1 year ago.
You must be a non US resident? That is the reason for the withholding of income tax under FIRPTA. I would have to see the title report or official letter that you received concerning this withholding situation