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Legal Update

Proposed Legislation Permits Foreign Shareholders to Own Increased Percentage of Domestic REITs Without Becoming Subject to FIRPTA

16 August 2010
Mayer Brown Legal Update
The US House of Representatives has passed the Real Estate Jobs and Investment Act of 2010. If it becomes law, this legislation would amend Section 897 of the Internal Revenue Code of 1986, as amended, which was enacted as part of the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), and would modify certain rules that currently apply to foreign investors that own stock of domestic real estate investment trusts (REITs).


  • James R. Barry
    T +1 312 701 7169
  • Jeffrey M. Bruns
    T +1 312 701 8793
  • Anne Marie Konopack
    T +1 312 701 8467

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