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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Wednesday, August 28, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will provide an overview of the ever-increasing state laws restricting foreign ownership of U.S. real property, addressing differences between the laws, and closely examining some of the more notable laws such as that in Florida. The panel will address what impact these state laws will have on real estate transactions and offer best practices for assisting multistate and international clients to navigate this evolving regulatory landscape.

Faculty

Massimo F. D'Angelo
Partner, Co-Chair Real Estate Industry Team
Blank Rome LLP

Mr. D’Angelo represents high-end fashion brands, media conglomerates, multinational corporations, owners, developers, condominiums and cooperative boards, politicians, and celebrities on complex real estate disputes, civil cases, securities litigation, and white collar criminal matters. He also counsels his clients on general corporate governance, labor and employment issues, transactional matters, and lobbying efforts. Mr. D’Angelo is a trial attorney with extensive experience in high-stakes litigation in state and federal courts throughout the country, as well as internationally. Mr. D’Angelo regularly writes and contributes to the education and development of the law.

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Anthony Rapa
Partner, Co-Chair International Trade Practice Group
Blank Rome LLP

Mr. Rapa leads Blank Rome’s National Security team. A dual U.S./UK-qualified practitioner with on-the-ground experience spanning four continents, he counsels companies and private equity sponsors regarding cross-border trade, operations, investments, and geopolitical strategic planning. A former member of the Law360 International Trade Editorial Advisory Board, Mr. Rapa is a trusted advisor to clients on matters involving economic sanctions, export controls, and investment screening involving the Committee on Foreign Investment in the United States. He has advised clients across a broad range of industries, including aerospace and defense, manufacturing, automotive, aviation and aviation-adjacent, technology/software, semiconductors, telecommunications, maritime, financial, shipping, freight forwarding and logistics, and energy.

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Description

In response to national security and geopolitical concerns, a large number of U.S. states have either enacted or are considering enacting legislation governing the ownership of U.S. real estate by foreign entities. The state restrictions vary in their application to different types of land, buyers/investors, and covered jurisdictions. They also differ in requirements--some simply mandate disclosure of foreign ownership while others prohibit certain transactions outright.

One of the more well-known and controversial laws is the state of Florida's limits on the ability of foreign principals to own agricultural land and land within 10 miles of any military installation or critical infrastructure facility in the state. Additionally, the law specifically limits the ability of Chinese nationals to buy any Florida real property and includes certain civil and/or criminal penalties for Chinese nationals who buy the property and for those selling the property. This law is facing legal challenges.

Counsel should understand the current state of this regulatory scheme given the number of laws now in effect or being considered for enactment and the impact these will have on real estate transactions.

Listen as our expert panel provides an overview of state laws restricting foreign ownership of U.S. real property. The panel will address how the laws vary and take an in-depth look at some of the more notable laws of which counsel should be aware. The panel will discuss the impact these laws will have on real estate transactions and offer best practices for navigating this regulatory landscape.

Outline

  1. Introduction
    1. History of state regulation of foreign ownership of U.S. real estate
    2. Interaction with federal law
  2. Examination of notable state laws (covered entities, transactions, and property type; enforcement)
    1. Florida
    2. North Dakota
    3. Tennessee
    4. Indiana
    5. Others
  3. Legal challenges
  4. Practitioner takeaways

Benefits

The panel will review these and other important issues:

  • Why have the states increased their scrutiny of foreign ownership of U.S. real property?
  • How do the state laws interact with federal law?
  • In what ways do the state laws vary?
  • What are some of the notable enforcement mechanisms and penalties under these laws?
  • What legal challenges are some of the laws facing?
  • What are best practices for assisting clients with navigating this evolving regulation?