It's March, and this month is all about the green...money, that is. In this episode, Maura and Cheryl discuss a new federal law regulating all-cash transactions. Starting March 1, 2026, a new federal FinCEN rule requires reporting of all-cash (non-financed) residential real estate transfers to legal entities or trusts to combat money laundering. This applies to 1-4 unit properties, condos, and some land, covering LLCs, corporations, and trusts nationwide, including Georgia. Title companies must file reports for these transactions, disclosing beneficial owners. Tune in to learn more and make sure you're ready to help your clients navigate the new normal for cash buyers.
Link to Cheryl's guide to the new FinCen rules: https://tr.ee/O5AgtbEs3R
Link to the National Association of REALTORS® guidance on FinCen Rules: https://www.nar.realtor/money-laundering-and-terrorism-financing/fincen-residential-real-estate-rule-faqs-for-real-estate-professionals
Link to info on the Financial Crimes Enforcement Network website: https://www.fincen.gov/rre
Link to Anti-Money Laundering Regulations for Residential Real Estate Transfers, in the National Archives: https://www.federalregister.gov/documents/2024/08/29/2024-19198/anti-money-laundering-regulations-for-residential-real-estate-transfers
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