NAR recently submitted a comment letter to the Treasury Department in response to the Committee for Foreign Investment in the United States’ (CFIUS’s) proposed rule expanding its jurisdiction and review of real estate transactions near military installations. The proposed rule would expand the range of CFIUS’s jurisdiction review from one mile to one hundred miles of various military installations across 30 states.
NAR submitted a letter acknowledging the national security risks that are prevalent, while also raising for CFIUS’s consideration the fair housing, property rights, and economic concerns that are also relevant. This proposed rule when finalized could also serve to address various state laws seeking to regulate foreign ownership. NAR remains engaged on this issue and will continue to provide updates.
Read NAR’s Letter to the Treasury Department
Federal Register | Definition of Military Installation and the List of Military Installations in Regulations Pertaining to Certain Transactions by Foreign Persons Involving Real Estate in the United States
The Committee on Foreign Investment in the United States (CFIUS) | U.S. Department of the Treasury
