Posted by John Merchant on August 10, 2007 at 13:51:45:
Give a local escrow officer a call and run this question by him/her and you’ll get your answer.
Your friend’s question actually should be two questions:
First does escrow see any legal problem with her taking clear title?
Second will escrow let her give clear title when she sells it?
Also it might simplify matters if she were to form a local LLC then take title in the name of the LLC and you could send an email to your Sec. of State’s corp. division and ask them if they see any problem with her doing it that way.
I recall hearing about an alien having to notify the bank in certain situations but I don’t know any more than that about alien property ownership in USA.
I met someone in Colombia, South America on my last trip there. She is an attorney who I dated while I was in Colombia. She is has been buying apartments on the beach for rentals. I told her I had several houses for sale. Including one for $30,000 USD. She just sold another property and wants to buy my house as an investment and rent it out. She asked me to find out if it is legal for her to buy my house and what would be the procedure. She does not need a mortgage. She has a tourist visa for the United States. She will not live here, only visit.
Do I just sell it to her with a Warranty Deed?
I called a couple local attorneys and they seemed to think there was no problem with her buying a property here, however they did not have any experience in that area so they suggested I seek guidance elswhere.
If anyone could help me out, I’d appreciate it. She is suppose to arrive this month.