New York LLC Transparency Act Presents Privacy Concerns

The Corporate Transparency Act, which took effect on January 1, 2024, requires many legal entities to report their beneficial owners and other information to FinCEN. In December, New York passed a law requiring LLCs to report similar information to its Department of State. The New York law will make certain beneficial owner information public, introducing privacy concerns not present with the CTA.

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Burnett v. NAR Verdict Won’t Immediately Change Broker Incentives

As long as buyer's brokers' compensation is paid by sellers and incentivize the highest possible sales price, without court intervention, the home sales process is likely to remain largely unchanged.

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