Expert: Ryan Dickens - 5/30/2006

Question
hi, i would like to know if it is legal for foreigners to buy US properties? Are there any requirements needed for outsiders to buy US properties? What are these?  If i wnat to lease the property i bought, how do i do this considering i live in a foreign country such as the Philippines? thanks.

Answer
Hello,
Yes, It is legal for foreigners to own properties in the US. Also, foreign citizens can own and lease properties here- typically through a property management company that will handle the leasing for you for a fee.
I am not an attorney, so I can not answer the legal questions regarding the requirements. If it is in an area that I represent, I can help you locate an attorney.
Thanks for the question