In August 2024, the Financial Crimes Enforcement Network (FinCEN) issued a final rule to enhance transparency in residential real estate transactions. Effective December 1, 2025, this rule requires specified individuals involved in non-financed residential real estate transfers to report transaction details to FinCEN. The goal is to curb illicit financial activities, such as money laundering, by increasing transparency, especially where properties are transferred through legal entities or trusts.
For title insurance agencies, this rule introduces a range of reporting and recordkeeping responsibilities that may impact day-to-day operations. Hereβs a breakdown of how it will affect title insurance agents, key aspects to consider, and a step-by-step guide to compliance.
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Stay Wicked my Friends,
Cheryl
Executive Director: Wicked Title Forum
Publication & Online Business Support Community for the Title Industry
https://community.wickedtitleforum.com/
https://wickedtitleforum.substack.com/
[email protected]
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