Privacy respecting real estate transactions soon to be reported to FinCen

The proposed rule applies to non-financed, residential real estate transactions that are purchased by an entity, like a trust or a limited liability company (LLC), which obscure the identities of their real owners. Transfers made directly to an individual would not be covered by this proposed rule. The relative stability of the U.S. real estate market and its reputation as a reliable source of value has traditionally attracted both legitimate interest and those looking to find a reliable mechanism to …

estate fincen identities liability non privacy real real estate relative transactions trust