Posted on January 14, 2016 - 05:37 PM
by David Luna
U.S. to Start Tracking 'Secret' Luxury Buyers
Daily Real Estate News | Thursday, January 14, 2016
The Treasury Department announced Wednesday that it will begin tracking all "secret buyers" of luxury properties as concerns mount about money laundering in high-end real estate. The initiative requires shell companies that make all-cash real estate purchases to expose the buyers' identities. The Treasury is asking title insurance companies to discover and report the identities of these buyers.
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