📝 Form Friday: Federal Reporting Requirement Purchase Addendum [FRR-PA] This new addendum requires both parties to provide specific information to the escrow/title company (the "Reporting Person") so they can report to FinCEN (Financial Crimes Enforcement Network) of the U.S. Treasury Department. 📆 When to Use It: Effective Date: December 1, 2025 (included in current RPA packages) Required when ALL three conditions are met: 1. Property is 1-4 residential units, vacant land for 1-4 units, or co
📝 Form Friday: Federal Reporting Requirement Purchase Addendum [FRR-PA] This new addendum requires both parties to provide specific information to the escrow/title company (the "Reporting Person") so they can report to FinCEN (Financial Crimes Enforcement Network) of the U.S. Treasury Department. 📆 When to Use It: Effective Date: December 1, 2025 (included in current RPA packages) Required when ALL three conditions are met: 1. Property is 1-4 residential units, vacant land for 1-4 units, or co
6 months ago
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