When a foreign person sells United States real property, that is a taxable event. The buyer is responsible for withholding. The rate of withholding generally is 15% (10% for dispositions before February 17, 2016). Generally, FIRPTA withholding is not required if the buyer acquires the property for use as a residence and the sales price is not more than $300,000. The Buyer or a member of the Buyer’s family must have definite plans to reside at the property for at least 50% of the number of days the property is used by any person during each of the first two 12-month periods following the date of transfer. For this exception, the Buyer must be an individual. There are other exceptions to FIRPTA withholding; however, notification requirements must be met.