Common use of Foreign Investments Clause in Contracts

Foreign Investments. In Real Property Tax Act (FIRPTA). Pursuant to the Internal Revenue Code 11 Section 1441, the deduction of a withholding tax on all fixed or determinable gross income shall be required of 12 any non-resident alien individual, fiduciary, foreign partnership or foreign corporation unless exempt under 13 provisions provided under said IRS Section. If Owner is a non-resident alien individual, fiduciary, foreign 14 partnership or foreign corporation, Broker will require a written statement pursuant to the controlling IRS Code 15 Section.