Tax Certification. Section 1455 of the Internal Revenue Code provides that the transferee of a United States real property interest must deduct and withhold a tax based on the amount realized by the transferor on the disposition, if the transferor is a foreign person. Seller is not a foreign person, and the "FIRPTA" certification will be provided to Agent by Buyer at Closing.
Appears in 7 contracts
Sources: Purchase & Sale Agreement, Purchase & Sale Agreement, Purchase & Sale Agreement
Tax Certification. Section 1455 of the Internal Revenue Code provides that the transferee of a United States real property interest must deduct and withhold a tax based on equal to ten percent (10%) of the amount realized by the transferor on the disposition, if the transferor is a foreign person. Seller SELLER is not a foreign person, and the "“FIRPTA" ” certification will be provided to Agent by Buyer at ClosingBUYER through Escrow.
Appears in 1 contract
Sources: Purchase and Sale Agreement (EQT Exeter Real Estate Income Trust, Inc.)