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SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

ALTA® Alert: " News Flash: Pile-Up on the I-Tin"

May 19, 2004

ALTA is pleased to provide this summary of the requirements of the Foreign Investment in Real Property Tax Act (FIRPTA). In general, FIRPTA provides that any person who acquires a U.S. real property interest from a foreign person must withhold a tax of 10 percent from the amount realized by the transferor foreign person (or a lesser amount established by agreement with the Internal Revenue Service). Federal regulations provide special rules requiring withholding on distributions and certain other transactions by corporations, partnerships, trusts, and estates. This presentation was first presented at the 40 th Annual Fund Assembly Conference held in May 2004 sponsored by Attorneys’ Title Insurance Fund, Inc. of Orlando, Fl. This paper provides general information on the requirements of the Internal Revenue Code and does not constitute legal advice.

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American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
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