# Any Canadians that have owned property in the USA?



## caribbeansun (Jul 6, 2006)

Just wondering if any Canadians here have owned real estate (not TS) in the US and if there were any particular issues around ownership that I should be aware of aside from tax issues?  Considering FL, AZ, CA and HI for a vacation home purchase.


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## rundmc (Jul 6, 2006)

I am not an expert and have no experience, but advice to me has been to incorporate in Canada and have the corporation buy the property.  Evidently 'will execution' can be quite difficult from out of state/country.

FWIW


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## caribbeansun (Jul 9, 2006)

"Will execution" - as in when I die??

You are correct in that a corporation doesn't have an expiry date (unlike myself).  I doubt I'll go the Canadian corp route though due to the unreasonably high tax rates on non-active business income in Canada.  Now a Bermuda or Cayman corp - well...I digress.

I was thinking more along the lines of weird ownership requirements/rules ie. can a foreign corp own property in the US without onerous reporting requirements?


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