Same Foreigners, New Law with Attorney Barry L. Simons

In episode 29 of The Real Talk, Raquel Ramirez is joined by real estate attorney, Barry Simons, to discuss the changes in the law regarding foreign ownership and registration requirements for property purchases, as well as the impact of migration on the real estate market.

Tune in to gain insights and expert advice on navigating the complexities real estate.

TIMESTAMPS

[00:01:34] Real Estate-Related Transactions and Litigation.

[00:05:10] County's Investigation into Homestead Exemptions.

[00:08:19] Changes in Real Estate Law.

[00:12:41] Foreign Ownership of Agricultural Land.

[00:17:05] Foreign Principles and Real Estate.

[00:21:01] Penalties for Not Registering.

[00:26:06] Foreign Buyers and Legal Implications.

[00:31:32] BSA Department and Money Laundering.

[00:32:37] Global Relocation and its Impact.

[00:36:56] Property Divestment and Inheritance.

[00:42:38] Real Estate Exceptions and Limitations.

[00:50:03] Everything Ties in Together.

In this episode, Raquel Ramirez and Atty Barry Simons discuss the challenges of understanding the intricacies of the law and the potential penalties associated with non-compliance. They note the absence of a clear map or comprehensive listing of all legal requirements and penalties, making it difficult for individuals to navigate the legal landscape independently. They also emphasize the significance of the penalties individuals may face if they fail to comply with the law.

Overall, Raquel and Atty Barry emphasize the complexity of the law and the potential consequences of non-compliance. It encourages individuals to conduct thorough research and seek professional advice to effectively navigate the legal landscape.

QUOTES

• "Let's just take the seller of a piece of property who is an American citizen and is domiciled here. In order to get in trouble, you have to knowingly violate the law. That's a pretty high burden for someone to meet. As long as you don't know you're doing anything wrong, you're fine." - Atty Barry Simons
• “I'm not trying to scare the real estate professionals or people who are selling, but the law spreads a little bit as it does into these other areas or to other people, not just these foreign principals from these seven countries, for instance.” - Atty Barry Simons
• “So foreign principle, you've got to be within the 10 mile radius, well, agricultural land is out, period. And then if you are, well, if you're a Chinese domiciled, you're completely out.” - Atty Barry Simons
• “I know there are some people who rather be avoidant. They'd rather just not face it. And if that works for them, great. I cannot. I like to face things head-on. Sometimes they're very uncomfortable, but like you said, it's better to be informed than not.” - Raquel Ramirez

SOCIAL MEDIA LINKS

Raquel Ramirez

Instagram: https://www.instagram.com/featured_properties_intl/

Facebook: https://www.facebook.com/featuredre

LinkedIn: https://www.linkedin.com/in/raquel-ramirez/

Atty Barry Simons

Facebook: https://www.facebook.com/BarrySimonsLaw/

LinkedIn: https://www.linkedin.com/in/barrylsimons/

WEBSITES:

The Real Talk: https://www.therealtalkpodcast.net/

Featured Properties International: https://msha.ke/featuredre

The Law Offices of Barry L. Simons: https://www.barrysimons.com/