Legal Question in Real Estate Law in California

Of course YOU can purchase property in other states. I think you meant to ask, "Can the corporation purchase property in other states?" This will depend upon the laws of those other states. In general, a corporation incorporated in State X can acquire property in State Y without violating any laws, but if the corporation wants to "do business" in State Y, it must first register with the Secretary of State or Department of Corporations in State Y as a foreign corporation. ("Foreign" in this sense means "from another state" and not necessarily a foreign country.)

The difference between acquiring property and doing business requires a little explanation. Acquiring property means something like buying a building, or inheriting a building, in an isolated transaction. It is "doing business" in a sense, but the statutes requiring registration generally consider "doing business" to mean a regular, recurring series of business transactions such as being a landlord and collecting rent, filling vacancies, making repairs and otherwise managing an income property. If it just buys a building, the corporation doesn't need to register and pay taxes (usually, at least), but when the corporation engages in the business of being a landlord, it must register.

Any statements about laws of states other than California must be understood only to reflect a general tendency among state laws. I am a California-licensed attorney and do not claim to have specific knowledge of the laws of any other state. Check with an attorney licensed in the state or states where the corporation acquires property.