February 29, 2024

In This Issue:

  • Breaking Down the FinCEN Anti-Money Laundering Rule: When Do you Have to Report a Transaction
  • Early Voting for Primary Election Ends Tomorrow, March 1
  • What Happened During the First TREC Meeting of 2024 - Voluntary MUD Form and More
  • Texas Real Estate Research Center: 33rd Outlook for Texas Land Markets Conference

Breaking Down the FinCEN Anti-Money Laundering Rule: When Do you Have to Report a Transaction

ALTA | Feb. 22, 2024
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking that would require certain people involved in real estate closings and settlements to report information to the agency about all-cash residential transactions nationwide involving legal entities and trusts. You can read a summary of the proposed rule's requirements here.

ALTA will break down various parts of the proposal to help title and settlement professionals understand the impact it will have on their operation.

Here’s a look at when a transaction must be reported to FinCEN:
 
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Free Webinar from ALTA March 7: Learn How Proposed Real Estate Anti-Money Laundering Rule Impacts You
Register for this free ALTA Insights webinar to learn more about the proposed rule, the impact it will have on title and settlement agents, and ALTA’s advocacy efforts.

Learn More About ALTA's Free Webinar »
 
 
TLTA Editor's Note: TLTA has set up a new page on our site dedicated to this issue, where you can review TLTA's initial analysis of FinCEN's proposal and more. TLTA is monitoring this significant regulatory proposal, will submit comments to FinCEN on behalf of the Texas title insurance industry, and will keep you apprised as this proposal moves closer to implementation. TLTA highly encourages all members to individually make comments to the rule proposal. In the coming weeks, we’ll be providing some guidance on how to do that as well as key points that may be helpful to you as you prepare your individual comments. Please contact Aaron Day with any questions. Comments are due April 16, 2024.
 

Early Voting for Primary Election Ends Tomorrow, March 1

TLTA | Feb. 29, 2024
Most elections in Texas are decided during the primaries. It is crucial that our industry get out the vote for the elected officials who share our values, support our industry, and serve as good stewards of Texas' real estate marketplace. 
 
Early voting for the primary election ends tomorrow, Friday, March 1. Please make your plan to vote today and encourage your network to do the same.
 
Who Represents Me
Identify your local officials using this search tool from Texas Legislative Reference Library.
 
Where to Vote and Other Needs to Know Info
Find polling location and more using these resources from TX Secretary of State's office. 
 
Primary Election Dates to Note on Your Calendar
Feb. 20 to March 1 - Early Voting
Feb. 23 - Last day to apply to vote by mail
March 5 - Election Day
 

What Happened During the First TREC Meeting of 2024 - Voluntary MUD Form and More

Texas Real Estate Commission | Feb. 15, 2024
The Texas Real Estate Commission met on February 12.
 
Learn more »
 

Texas Real Estate Research Center: 33rd Outlook for Texas Land Markets Conference

Texas Real Estate Research Center | Feb. 29, 2024
The 33rd Annual Outlook for Texas Land Markets provides information on a variety of legal, economic, social, and natural resources issues influencing current land market dynamics.  
 
Learn more »