Alright, grab your oat milk latte and let’s decode one of real estate’s least sexy—but most important—acronyms: FIRPTA.
It sounds like a made-up word your toddler would yell (“Mom, the FIRPTA took my snack!”), but it actually stands for the Foreign Investment in Real Property Tax Act. And if you ever handle, sell, or close on a property where one of the parties is not a U.S. citizen or resident, this little acronym can make or break the deal.
So let’s explain it like you’re five (but with the attention span of a millennial scrolling Zillow at midnight).