Creates provisions relating to foreign ownership of real estate

HB 897 prohibits foreign governments and businesses from "foreign adversary" countries (as defined by federal regulations) from purchasing, holding, or acquiring real estate in the state. It directly affects entities like foreign-owned corporations headquartered in designated adversary nations or controlled by such governments. The bill includes three key exceptions: businesses registered for 7+ years with good standing, CFIUS-approved entities, and those with active federal national security agreements. The law specifies that "foreign adversary" refers to entities listed under 15 CFR 7.4(a), without altering existing federal definitions.