Federal Court Strikes Down Real Estate Surveillance Rule

Federal court strikes down real estate surveillance rule

TYLER - A federal court has struck down a rule that forced title companies to collect and report private details about the people involved in non-financed real estate transactions in residential property, particularly those involving business entities or trusts.

Judge nixes FinCEN residential real estate rule

A Texas judge struck down a rule requiring professionals engaged in real estate closings and settlements to report information about nonfinanced transfers.

Federal Court Strikes Down FinCEN Residential Real Estate Rule - Real Estate Investing Today

Legal The American Land Title Association is reporting that a federal judge in the Eastern District of Texas issued a ruling vacating the FinCEN Residential Real Estate Rule in its entirety. ALTA says the ruling found that FinCEN exceeded its statutory authority under the Bank Secrecy Act and ordered the rule be set aside. They say

Judge Blocks Treasury Rule Requiring Disclosure Of All-Cash Real Estate Buyers

A federal district judge has struck down a federal anti-money laundering rule that required residential real estate buyers to be disclosed in all-cash transactions.