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Treasury expands foreign land purchase oversight
The U.S. Treasury Department issued a final rule that significantly expands its ability to review real estate transactions by foreign persons near more than 60 military bases across 30 states. The Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), says the committee has the authority to review certain real estate transactions near specified military installations and to take the appropriate actions it deems necessary. Nearly 60 military installations will...