Under the new rule, when a legal entity or trust purchases a piece of residential real estate without the use of financing, closing or settlement agents must report details of the transaction. Continue reading
The “Transparent Owner” tool is becoming available as the Financial Crimes Enforcement Network, or FinCEN, prepares to crack down on money laundering in residential real estate. Continue reading
Real estate professionals who handle closings and settlements will be required to report information to the Treasury’s Financial Crimes Enforcement Network when an all-cash residential sale is made to shell companies, legal entities and trusts. Continue reading
The U.S. Treasury Department is poised to enact expanded reporting measures on luxury home sales, putting an end to anonymous purchases that have enabled oligarchs, terrorists and others. Continue reading
The U.S. Treasury Department is expanding previous regulations to more U.S. counties and lowering the sales price threshold for reporting. Continue reading