Escrow & Title
Under the Foreign Investment in Real Property Tax Act (FIRPTA), a West Virginia buyer who purchases property from a foreign seller must:
APay double the excise tax rate
BWithhold a percentage of the purchase price for federal taxes unless an exemption applies✓ Correct
CObtain WVREC approval for the transaction
DFile a special disclosure with the state treasurer
Explanation
FIRPTA requires buyers purchasing U.S.
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