The International Transaction Library was created by the American College of Real Estate Lawyers (ACREL) and the American Land Title Association (ALTA). Its primary mission is to create an on-line reference tool for American real estate attorneys and title professionals when engaging in international real estate transactions. The Library describes the customs, practices and procedures for real estate transactions in the major commercial centers around the world. It also contains forms of title assurance, including title insurance, credit enhancements and title indemnities used in connection with these transactions.
The Library provides a crucial framework for American real estate professionals when approaching international transactions. Every country has its own language, culture, customs and legal and financial system within which a real estate transaction will occur. Accordingly, such transactions present unique challenges and risks for the client and real estate counsel that must be clearly understood and dealt with if the transactions are to be successfully and safely consummated. The challenges increase as one moves from the fully developed nations such as those in Western Europe, Canada and Japan to the so-called "emerging nations" such as China, Brazil, India and Russia.
The Library is presented in an extremely useful on-line database. This database contains vital information on several topics, including ownership restrictions, closings, taxes, title searches and escrow. The Library also presents related documents to provide the maximum amount of information. This allows for the American professional to effectively manage risk while engaging in international business.
This information is not a substitute for legal, financial or business advice, is for your reference only, and is not intended to be relied upon transacting business. Users should consult legal counsel and subject-matter as necessary.
ALTA-ACREL Project Overview
Argentina (Buenos Aires)
British Virgin Islands
St. Christopher & Nevis
Trinidad & Tobago