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
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
Real estate professionals who handle closings and settlements will need to file a report to the Treasury when an all-cash residential sale is made to shell companies, trusts and legal entities