Hi, I'm Annie Fitzsimmons. I'm your Washington Realtors Legal Hotline lawyer. Today, I want to do a Phase two on a FERPA video. We did the FERPA video way back in 2016, and with this video, we're offering you a link back to that 2016 video. Because really, everything that was said in that video, nothing's changed except best practices. In that video, I told you that you should take the form 22e with the seller having filled it out and signed it and attached it to every purchase and sale agreement. That's wrong. That's not the best way to use form 22e. So in this video, I want to spend a few minutes talking about the best utilization you can make a form 22e to facilitate not only the buyer and seller but also escrow to get this transaction closed in conformity with federal law. So watch that video, and you'll know what we're talking about with respect to what the FERPA form is, what it does, and why it's important. Here's what I want you to learn as to what you need to do with that form. Alright, it starts with you listing brokers. When you first meet with the seller and you have the seller sign the listing agreement, you also pull out your form 22e, your FERPA certificate, and you have the seller complete and sign the form 22e. That form is then uploaded to the MLS as an attached document. When the buyer's broker writes an offer on the seller's property, your broker pulls that form off of the attached documents, references the information on that form, properly marks the FERPA provision on the buyer's offer form, and then takes form 22e signed by the seller and puts it in the buyer's broker's firm's transaction folder. Form 22e...
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If the Buyer preferred not to withhold, then they must submit the Form CAS-1441-F. This form will not be used to claim this exemption. Form CAS — F (Foreign Investment in Real Property) — Foreign Property Buyer's Affidavit of Non-Foreign Status (Seller Affidavit, Form AS-14) has been prepared to certify the Buyer's non-foreign status in California, and does not provide access to a tax exemption. Form CAS — F (Foreign Investment in Real Property) — Foreign Property (Form CAS — F) — Foreign Property — In order to qualify for the Buyer Certification form, the seller must provide a completed affidavit or certification which states that (i) the U.S. citizen is not a citizen or permanent resident of a foreign government, and (ii) the U.S. citizen is not the owner (or an officer, director, or stockholder) of a partnership, trust, or other entity that is a foreign entity. Form CAS– F (Foreign Investment in Real Property) — Foreign Property provides you with access to a tax exemption but also requires that each person named on the form is a non-resident under California law and, therefore, must have a U.S. passport. Form CAS — F (Foreign Investment in Real Property) — Foreign Property FORM CAS– F (FINAL SALES) Form CASE — Final Sales form is produced and used to file Form CAS — 12 for the sale of a California real property. The form applies to transactions in which a buyer acquires real property (land) for which a tax was paid prior to November 1st of that year, and in which the Buyer paid tax in the amount stated on the tax return, and the same tax is paid on subsequent sales. FORM CAS-12 The form is completed by the Buyer's attorney with the help of the Buyer's agent and is not a signed agreement. Form CAS-12 Form CASE — Final Sales form is used by a non-resident under California law to certify that payment of foreign tax has been made, that the Buyer has qualified for a tax exemption, and that the Buyer does not have a U.S. passport.
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