Effective January 1, 2017, the Suffolk County Clerk’s office will begin to assess a Mortgage Verification fee on all mortgage related documents submitted for recording. The assessment will be charged at a rate of $300 per document and will affect documents such as, but not limited to Mortgages, Assignments, CEMAs and Satisfaction of Mortgages. At […]
By: Pamela A. Michaels, Esq. With prices in New York once again hitting records highs, investors are selling properties at an unsurpassed pace. In addition, with most Northeast investors being subject to capital gain tax rates in excess of 30%, more investors are turning to Section 1031 exchanges to defer capital gain taxes on the sale […]
In an effort to collect $1.5 billion worth of Environmental Control Board Liens the City of New York has issued an amnesty program that will be available from September 12, 2016 through December 12, 2016. If you have unresolved Environmental Control Board (ECB) violations in judgment, you may be eligible for, Forgiving Fines: The NYC […]
Informative presentation detailing the updated FinCEN geographical targeting order. VIEW PRESENTATION https://www.judicialtitle.com/NewsUpdates/FinCEN_Presentation.pdf
In March of 2016, The Financial Crimes Enforcement Network (FinCen), a bureau of The United States Treasury Department, issued a Geographic Targeting Order (GTO) that required title companies and its agents to identify the names and social security numbers of the natural person(s) behind LLCs and other opaque structures that are used as shell companies […]
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