Aug 2 2016 19490 1

Aug 2 2016 19490 1

Cash-Sale Disclosure Rule Expands to Palm Beach and Broward Counties

High-end homebuyers paying cash in Palm Beach and Broward Counties soon will have to reveal their identities as part of a federal program targeting money laundering in real estate. 

In January, the Treasury Department said it was requiring title insurance companies to reveal the names of owners behind holding companies for sales priced at $1 million or more in Miami-Dade County and $3 million or more in Manhattan.

Beginning Aug. 28 and continuing for six months, that requirement will extend to cash buyers paying $1 million or more for homes in Palm Beach and Broward Counties. It also applies to other parts of New York, California and Texas... Continue Reading (Florida Realtors® News)

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Phone: 561-308-2444
Dated: August 2nd 2016
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