For now, closing and settlement agents won't be fined for not reporting transactions
The Community Associations Institute argues the law should not impact volunteer-led boards
Ruling is in favor of a title company owner who said the rule violated her Fourth Amendment rights
The new rule affects legal entity or trust purchases of residential real estate without financing
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
Treasury Secretary Janet Yellen said the new reporting rules will 'close critical loopholes in the US financial system' that allowed criminals to launder money through all-cash residential sales
Wealth manager Michael Conticelli writes that agents must understand ownership rights to ensure they are using correct documentation and contracts for legal compliance
The enforcement network also revised its targeting orders to include a 'broader range of transactions'
New regulations predicted to minimally impact Miami's residential sales volume