Vanderbilt Journal of Transnational Law

First Page



International practice in the Southeast is primarily divided between representation of industrial and business investors and representation of real estate investors. In both cases, the legal skills required are those necessary to represent domestic clients engaged in the same activities, with an overlay of specialized expertise. For example, closing a real estate purchase on behalf of a foreign purchaser involves the same elements of real estate practice as any domestic purchase and sale. If the purchaser is foreign, however, the lawyer must consider the applicability of tax treaties, Internal Revenue Code provisions governing repatriation of real estate income, various state laws restricting foreign ownership of real estate, and registration requirements imposed by the United States Departments of Commerce and Agriculture and by the Foreign Investment in Real Property Tax Act, among other issues.