Attorney Michael Kosnitzky says some real estate professionals and attorneys are talking about trying to circumvent a federal order targeting cash sales of luxury Miami real estate. He strongly suggests they consider compliance instead.
March 07, 2016 at 12:00 AM
1 minute read
The South Florida real estate community is heading for a train wreck if it doesn’t take the recent federal government mandate for transparency in real estate purchases more seriously.
The government’s announcement on Jan. 16 required title companies, starting March 1, to disclose the ultimate ownership of entities that are used to buy high-end properties in an all-cash type purchases in Miami-Dade County exceeding $1 million.
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