Stock or Asset Purchase Agreement: FIRPTA Non-Foreign Person Certification (Disregarded Entity) | Practical Law

Stock or Asset Purchase Agreement: FIRPTA Non-Foreign Person Certification (Disregarded Entity) | Practical Law

This Standard Document is delivered by the owner of a seller that is a disregarded entity in a stock or asset sale to inform the buyer that the seller's owner is not a foreign (non-US) individual or entity and therefore not subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). If the seller is a disregarded entity, its owner is a foreign individual or entity, and the transaction is subject to FIRPTA, the buyer may be required to withhold a portion of the purchase price. This Standard Document has integrated notes with important explanations and drafting tips.

Stock or Asset Purchase Agreement: FIRPTA Non-Foreign Person Certification (Disregarded Entity)

by Practical Law Corporate & Securities
Maintained • USA (National/Federal)
This Standard Document is delivered by the owner of a seller that is a disregarded entity in a stock or asset sale to inform the buyer that the seller's owner is not a foreign (non-US) individual or entity and therefore not subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). If the seller is a disregarded entity, its owner is a foreign individual or entity, and the transaction is subject to FIRPTA, the buyer may be required to withhold a portion of the purchase price. This Standard Document has integrated notes with important explanations and drafting tips.