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Real Estate Transactions Corporate Transparency Act Financial Crimes

Cadwalader, Wickersham & Taft LLP

Not So Sweet Home Alabama

In a recent opinion out of the U.S. District Court for the Northern District of Alabama, the newly-effective Corporate Transparency Act (“CTA”) has been found unconstitutional. In National Small Business United v. Janet...more

Dorsey & Whitney LLP

FinCEN Proposes AML Compliance Obligations for Non-Financed Real Estate Transactions

Dorsey & Whitney LLP on

Following consideration of comments received from an Advanced Notice of Proposed Rulemaking, on February 16, 2024, FinCEN issued a proposed rule (the “Proposed Rule”) that for the first time would require non-financed...more

Polsinelli

New York Targets Real Estate Owners in New LLC Transparency Law

Polsinelli on

Riding a wave of ownership disclosure laws began with the passage of the federal Corporate Transparency Act (CTA), on December 22, 2023, Governor Hochul signed New York’s own “LLC Transparency Act” (the NY-LLCTA), passed by...more

Falcon Rappaport & Berkman LLP

FinCEN’s Anti-Money Laundering Regulations for Residential Real Estate Transfers

To crack down on money-laundering in the U.S. residential real estate market, the Financial Crimes Enforcement Network (“FinCEN”) has proposed new reporting requirements for certain real estate transactions. Specifically, the...more

Ballard Spahr LLP

FinCEN Proposes BSA Reporting Requirements for Residential Real Estate

Ballard Spahr LLP on

On February 16, the Financial Crimes Enforcement Center (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) regarding residential real estate. The final version of the NPRM published in the Federal Register is 47...more

Lowndes

The Real Estate Impact of FinCEN's Beneficial Ownership Reporting: Are You Prepared?

Lowndes on

In a move heralded as a significant step toward transparency, the Financial Crimes Enforcement Network (FinCEN) has adopted its final Beneficial Ownership Information (BOI) Reporting Rule pursuant to the Corporate...more

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