South Tampa Real Estate Report

South Tampa Real Estate Market Report | 3/15/26 - 3/21/26

On March 19, the US District Court for the Eastern District of Texas struck down the Department of the Treasury’s Financial Crimes Enforcement Network ("FinCEN") rule requiring a Real Estate Report for certain non-financed residential property transfers to entities or trusts. While the decision may be appealed, FinCEN released its position statement “In light of a federal court decision, reporting persons are not currently required to file real estate reports with FinCEN and are not subject to liability if they fail to do so while the order remains in force." 

What does this mean for those buyers who would have been subject to the rule? While filing the Real Estate Report is no longer required, most title companies will continue to collect the data in case the decision is overturned on appeal and the rule is applied retroactively to applicable transactions. Hopefully we will receive further guidance from FinCEN in the near future.

Have a great week! 

Michael Palermo

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