February 9, 2016
New LLC Disclosure Law Probably Won’t Have Much Impact on the Condo Market
Will new federal regulations aimed at clamping down on shell companies buying luxury real estate send a chill through Manhattan’s high-end real estate market? The reaction to a page one article in the New York Times last month suggests fear is in the air. But that fear may be misplaced for two reasons: firstly, the Treasury Department’s database of buyers’ names will not be public, as many have inferred; and secondly, in New York, title insurance is not mandatory when you're making an all-cash deal.
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