Owning Florida Property the Canadian Way and other tid-bits!

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Real Estate Agent with Donovan Home Sales Inc.

I was just introduced to what looks like a terrific book that will be of assistance to our many Canadian buyers that we have coming to Florida this time of year. I was at a seminar given by RBC Bank and they provided some helpful bits of information that can be of great help to folks from Canada coming to purchase their piece of Florida Real Estate!  The book is called "OWNING U.S. PROPERTY THE CANADIAN WAY" by David A. Altro, Esq.. I'm ordering my copy at:  www.altrolaw.com

Mr. Altro is an attorney and Canadian legal counsel and leading practitioner in cross border real estate, tax and estate planning.  For decades, Canadians have been seeking refuge from the harsh Canadian winters by heading south to the sunny skies and sandy beaches of Florida, Arizona, California and the other sunbelt states. Buying and owning U.S. property for a Canadian resident can be confusing, stressful and filled with uncertainty. Owning U.S Property - The Canadian Way provides answers to tax, estate planning and real estate issues on both sides of the border.  I was particularly interested to hear about the "Cross Border Trust" which can protect Canadian purchasers for future U.S. sale.

There is also a great website done by Finkelstein & Associates, PA, Attorneys - out of Sarasota -  http://www.attorneycpa.com/forcanadians.php  which very clearly explains not only Cross Border Trusts, but the closing process for Canadians buying in the US and how property taxes work in the US. 

RBC bank  - www.rbcbankusa.com is also a great contact to have if Canadian clients want to transfer funds and have them available locally on short notice.  Our local branch here is at Seminole Mall in Seminole.  Phone 727-319-1802.  They mentioned clients being able to access funds from their "U.S" money account the same day! They also have mortgage products geared to Canadian clients.

Last, but not least, there is also a terrific local Accounting firm, Thomas Roberge & Company www.robergeco.com , right here in St. Petersburg. They specialize in  U.S. International Tax Services and have made themselves available for consultation to foreign purchasers of Florida property. Several of my clients have found them to be very helpful. I heard Susan Inez Poskus, CPA, from the firm speak at the Pinellas Realtor Assn. several months back and she even offered to answer a question or two over the phone if needed - 727-822-9393 is her # if you need to give her a call.

Hope these tid-bits are helpful!

Karen

 

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