FinCEN Reporting Requirements for Home Transfers
FinCEN’s "Residential Real Estate Rule" requires reporting beneficial ownership information for non-financed, legal entity/trust transfers of residential property to combat money laundering. Reports are due by the last day of the month following the closing date. This regulation aims to increase transparency in high-risk, non-financed real estate transactions. Certain transactions are exempt from reporting because they lack a "reporting person", such as those involving no formal closing agent, title insurer, or similar professional - are exempt.
Related Articles
What About The FinCEN Beneficial Ownership Information Reporting - What Does This Mean For Bulletproof Trusts
Nothing changes for bulletproof trusts and sole proprietorships because reporting is only required for a domestic statutory entity such as a statutory trust, business trust, or foundation that was created by the filing of a document with a Secretary ...
New Beneficial Ownership Laws for Corporate Entities (2024)
There are new Beneficial Ownership Laws that go into affect January 1, 2024 for corporate entities. Under the final rule, a beneficial owner includes anyone who, directly or indirectly, either exercises substantial control over a reporting company, ...
What Is The Difference: Real Estate Secrets vs Foreclosure Secrets
Real Estate Secrets: Learn how to privatize one's land in 90 days - effectively stopping any foreclosure proceedings and forcing the court to enter one's self, the court and the lender into a constructive trust. Paired with lawful money and the ...
Every State's Constitutional / Statutory Property Tax Exemption
Hire our Constitutional Attorney ($250) to research your state's laws to build a legal argument against stubborn appraisers. STATE LAW QUOTE Alabama ACT 12 Chapter 21 § 12-21-96 Land patents issued by the United States, or any state of the United ...
Can Real Estate Investors (REI) Establish a HELOC Against Their Entire Portfolio
Yes and no. Doing this is very difficult using the same strategy we teach in the program. Why? The banks will give lines of credit where the investor has interest-only payments, but the banks don't want anyone to pay it off early which is why they ...