MIAMI—The new Foreign Investment in Real Property Tax Act(FIRPTA) intends to promote increased cross-border investment in USreal estate—something that has been a big impediment for foreigninvestment for a long time. Under the changes, non-US investors cannow hold up to 10% of a publicly traded US REIT's stock withouttriggering FIRPTA upon sale of the stock or upon receiving proceedsfrom a REIT's sale of assets.

So, how does Obama's easing of this 35 year-old tax impactforeign investment in South Florida real estate? We caught up withCarlos Somoza, an international tax principal at Miami'sKaufman Rossin, to get some answers.

GlobeSt.com: How will changes to FIRPTA impactforeign investment in the U.S., specifically in SouthFlorida?

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