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FinCEN Launches New Real Estate Reporting Requirement
A landmark rule from the Financial Crimes Enforcement Network (FinCEN) will impose new reporting obligations on certain real estate professionals. For the first time nationwide, title agents, closing and settlement professionals, attorneys, and others involved in all-cash (non-financed) residential property transfers to LLCs, trusts, or similar legal entities must submit a Real Estate Report to FinCEN.
Aug 282 min read
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