An Act addressing international real estate speculation

HD 4207 imposes a 15% fee on nonresident purchasers (individuals not U.S. citizens/nationals) buying real estate in Massachusetts cities or towns that adopt the law. The fee, paid by the buyer at closing, must be accompanied by an affidavit and certificate to clear title registration. Exemptions apply if the property is used as the buyer’s principal residence, and collected fees fund local affordable housing trust funds. Failure to pay incurs 14% annual interest and a 5% monthly penalty (capped at 25% of the fee).