Foreign and Out-of-State Investment in New York Real Estate
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Alexander Paykin.
The Alexander Paykin Commentaries
New York real estate attracts investors from across the country and around the world. But buying a New York asset is not just a financial decision. It is a legal structure.
On the Price of Business, Alexander Paykin, Esq. discussed what foreign and out-of-state investors should consider before buying New York real estate or entering high-value New York business deals. Topics included New York choice-of-law clauses, forum-selection clauses, escrows, beneficial ownership reporting, FIRPTA withholding, anti-money-laundering issues and enforcement.
New York is unusual because its law expressly allows sophisticated parties in large transactions to choose New York law and, in qualifying cases, New York courts – even when the parties themselves are not New Yorkers. That makes New York attractive for national and international transactions, but only when the documents are drafted correctly.
The key takeaway is that foreign and out-of-state investors should plan for the dispute before the dispute exists.
Alexander Paykin, Esq. is Managing Director of Paykin Law, a New York firm focused on commercial litigation, real estate litigation and complex transactions. Learn more at https://www.paykinlaw.net/attorneys/alexander-paykin-esq.
Document note: This post is for general informational purposes only and does not constitute legal advice.
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