• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

2

New LA Angels owner Stan Kroenke is quietly America's largest private landowner, boasting 2.7 million acres and besting Bill Gates and Jeff Bezos

3

The Pentagon is giving 3 million military and civilian workers access to ChatGPT and Grok through a secure AI platform built for ‘warfighter needs’

1

The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

2

New LA Angels owner Stan Kroenke is quietly America's largest private landowner, boasting 2.7 million acres and besting Bill Gates and Jeff Bezos

3

The Pentagon is giving 3 million military and civilian workers access to ChatGPT and Grok through a secure AI platform built for ‘warfighter needs’
FinCEN

Wealthy Home Buyers Can No Longer Conceal Their Identities In These Cities

By
Renae Reints
Renae Reints
Down Arrow Button Icon
By
Renae Reints
Renae Reints
Down Arrow Button Icon
November 16, 2018, 4:23 PM ET
Add Fortune on Google for similar content.

Wealthy home buyers can no longer hide their identities behind shell companies.

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) tightened regulations on all-cash real estate deals Thursday, requiring more transparency for pricey real estate.

Under the revised rules, U.S. title insurance companies must disclose the names of individuals behind limited liability or shell companies that make an all-cash residential home purchase of $300,000 or more.

FinCEN also expanded the definition of all-cash purchases to include virtual currencies like bitcoin.

The rule changes increase the number of reports the office will receive in addition to expanding the number of cities to which the regulations apply. Las Vegas, Seattle, Chicago, Boston, and Dallas-Fort Worth were all added to the list of monitored metropolitan areas, joining Honolulu, Miami, New York City, Los Angeles, San Antonio, San Diego, and San Francisco.

Previously, the disclosure threshold varied by city—the rules applied to cash deals of $3 million or more in Manhattan, for example, but just $500,000 or more in San Antonio. Now, the individual behind any all-cash deal by a limited liability company, or LLC, of $300,000 or more in any of the 12 cities must be named.

The required disclosures are intended to help FinCEN better track money laundering and other illicit activities, but anyone making such a purchase through an LLC will be affected.

About the Author
By Renae Reints
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.