Order for Six Major Areas Renewed; Includes Cash Deals Purchased by Corporate Entities Above $500,000 for Bexar County
The Financial Crimes Enforcement Network (FinCEN) Geographic Targeting Order (GTO) first issued in July 2016 has been renewed for 180 days, extending it to Aug. 22, 2017. This order requires title insurers and their agents to identify the names of individuals involved in corporations, LLCs and other legal entities that make all-cash purchases for high-end residential real estate in Bexar County. The threshold in Bexar County is cash deals purchased by corporate entities above $500,000.
Watch TLTA's free webinar
"FinCEN Geographic Targeting Order: What You Need to Know Before Closing a Deal in Bexar County.” Additional resources are available on TLTA’s FinCEN webpage
View FinCen's press release
on the renewed GTO, a sample GTO
, Form 8300
and the FAQs
issued with the original order.
TLTA will continue to keep members informed about this development. If you have questions, please contact Aaron Day, Director of Government Affairs and Counsel, at 512.879.2881 or firstname.lastname@example.org