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Tag: Housing Providers (2 articles found) - Clear Search

NEW FinCEN Rule: What Residential Realtors Need to Know

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www.firstohiotitle.com
Who is FinCEN? FinCEN (Financial Crimes Enforcement Network) is a bureau of the U.S. Treasury tasked with protecting the financial system from money laundering, terrorism financing, and other financial crimes.

📅 What’s Happening on December 1, 2025?
A new nationwide rule goes into effect requiring the reporting of certain all-cash residential real estate transfers to legal entities or trusts. This replaces older, localized reporting requirements.
🏠 What Does It Cover?
  • Non-financed (cash) purchases of 1–4 unit residential properties
  • When the buyer is a legal entity (LLC, Corporation, or Trust)
  • Includes sales, gifts, and some transfers unless exempt
📋 What Must Be Reported?
  • Property address and details
  • Name of the buyer (transferee) and their be
    Read More...


Massachusetts Passes New Law Increasing Transparency Requirements for Landlords

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 In a recent development, Massachusetts has introduced a new law aimed at enhancing transparency and accountability in the landlord-tenant relationship. The law, which was passed recently, brings in a series of measures that seek to provide tenants with greater visibility into their rights and the responsibilities of their landlords.

Among the key provisions of the law are requirements for landlords to provide more detailed information to tenants regarding rent increases, lease agreements, and security deposits. Additionally, the legislation mandates that landlords must share project cost estimates with tenants before initiating any major renovations or repairs that may impact their living conditions.

These new regulations are designed to empower tenants by ensuring they have access to vital information that can help them make informed decisions and protect their rights. Landlords in Massachusetts will need to adjust their practices to comply with the new law and ensure that they fulfill their obligations towards their tenants.

Overall, the passage of this law reflects a positive step towards promoting transparency and fairness in the state's rental market, benefiting both landlords and tenants alike. Stay tuned for more updates on how this new legislation will impact the real estate landscape in Massachusetts.