Common use of FIRPTA TAX WITHHOLDING Clause in Contracts

FIRPTA TAX WITHHOLDING. Seller shall inform Buyer in writing if Seller is a “foreign person” as defined by the Foreign Investment in Real Property Tax Act (“FIRPTA”). Buyer and Seller shall comply with FIRPTA, which may require Seller to provide additional cash at Closing. If Seller is not a “foreign person”, Seller can provide Buyer, at or prior to Closing, a certification of non-foreign status, under penalties of perjury, to inform Buyer and Closing Agent that no withholding is required. See STANDARD V for further information pertaining to FIRPTA. Buyer and Seller are advised to seek legal counsel and tax advice regarding their respective rights, obligations, reporting and withholding requirements pursuant to FIRPTA.

FIRPTA TAX WITHHOLDING. Seller shall inform Buyer Xxxxx in writing if Seller is a “"foreign person” " as defined by the Foreign Investment in Real Property Tax Act (“"FIRPTA”"). Buyer and Seller shall comply with FIRPTA, which may require Seller to provide additional cash at Closing. If Seller is not a “"foreign person”", Seller can provide Buyer, at or prior to Closing, a certification of non-foreign status, under penalties of perjury, to inform Buyer Xxxxx and Closing Agent that no withholding is required. See STANDARD V for further information pertaining to FIRPTA. Buyer Xxxxx and Seller are advised to seek legal counsel and tax advice regarding their respective rights, obligations, reporting and withholding requirements pursuant to FIRPTA.

FIRPTA TAX WITHHOLDING. Seller shall inform Buyer in writing if Seller is a “"foreign person” " as defined by the Foreign Investment in Real Property Tax Act (“"FIRPTA”"). Buyer and Seller shall comply with FIRPTA, which may require Seller to provide additional cash at Closing. If Seller is not a “"foreign person”", Seller can provide Buyer, at or prior to Closing, a certification of non-foreign status, under penalties of perjury, to inform Buyer and Closing Agent that no withholding is required. See STANDARD V for further information pertaining to FIRPTA. Buyer and Seller are advised to seek legal counsel and tax advice regarding their respective rights, obligations, reporting and withholding requirements pursuant to FIRPTA.