NAHREP SELA Hosts “Mi Casa es Mi Casa” Real Estate Seminar
NAHREP South East Louisiana (SELA), the recently instituted local chapter for the National Association of Hispanic Real Estate Professionals (NAHREP), hosted its “Mi Casa es Mi Casa” seminar, an insightful event where real estate professionals gathered to learn about key legal issues impacting property ownership, particularly for immigrants and foreign investors.
The seminar featured a dynamic panel of legal experts, including Maria Stephenson, attorney at Stephenson, Chávarri & Dawson, L.L.C.; Mike Troendle, attorney at Title Management Group; and Olivia Byers, attorney at Title Stream. Each presenter offered valuable perspectives on evolving regulations and best practices in the real estate field.
Attendees learned about the importance of legal documents such as Power of Attorney for real estate transactions and provisional custody for minor children—simple but crucial tools for families managing complex or cross-border situations.
Key Legislative Updates for Louisiana Real Estate
A major topic of discussion was recent legislative efforts in Louisiana to restrict foreign ownership of property. For example, Senate Bill 537 (hypothetical link for specific bill information) targets buyers from countries deemed foreign adversaries—including China, Cuba, Iran, North Korea, Russia, and Venezuela—limiting their ability to purchase property, especially on tourist or other temporary visas. Bill 91, another proposal, sought to prohibit property purchases by certain individuals or entities from designated “foreign adversary” countries within 50 miles of sensitive military areas.
The panel also covered the Foreign Investment in Real Property Tax Act, FIRPTA, which requires foreign sellers to pay capital gains tax on property sales. Depending on the sale price and intended use, withholding rates range from 0% to 15%, with specific affidavits or IRS certificates required for exemption or reduction. Navigating these rules often requires coordination with CPAs and proper application for ITINs.
Navigating Property Ownership for Immigrants and Foreign Investors
The informative morning offered a lively networking lunch featuring Cuban sandwiches, arepas, tostones, salads, and Jarritos—celebrating Latin culture and fostering community and conversation among attendees committed to serving and educating Louisiana’s diverse homebuyers. This seminar is a vital resource for anyone involved in Hispanic real estate in New Orleans and the surrounding areas.
