Government Enforcement Defense Lawyers Vasu Muthyala and Beau Barnes Analyze New Regulations Targeting All-Cash Real Estate Purchases
September 19, 2016
In what they call “a shot across the bow of the luxury real estate industry,” Kobre & Kim lawyers Vasu Muthyala and Beau Barnes explain the U.S. Treasury Department’s new federal rules imposed on title companies in a recent article featured on GlobeSt.com. The article, “Cash Buyer, Beware of New Reporting Requirements,” focuses on the new regulations aimed at cracking down on money laundering and ill-gotten gains in the real estate sector. The authors explore how the regulations require title companies to identify and disclose the beneficial owners of a corporate entity behind high-value, all-cash purchases of residential real estate in highly desirable metropolitan areas across the country and analyze how the information gained from these new disclosure requirements will aid government investigations into the sources of funds used to purchase real estate in the United States.
To access the article, click here.