Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Published: May 7, 2024
Orlando, FL) In his article “FinCEN’s Proposed Rulemaking Impact on Resident Real Estate” attorney Austin Alderman reviews Financial Crimes Enforcement Network (FinCEN)’s proposed rule. With the continued goal of enhancing transparency in residential real estate, the rule would require the collection and disclosure of beneficial ownership involved in the transaction.
Alderman writes, “This [rule] would require companies to identify the individuals behind the shell companies and other legal entities.” The article presents the potential business implications should the rule be imposed. These include: increased compliance costs, impact on transaction timelines, market uncertainty, and enhanced market transparency.
Following is a link to the complete article: https://www.deanmead.com/fincens-proposed-rulemaking-impact-on-residential-real-estate/.
