Goldstein & Levy, P.A., General Counsel Legal Bulletin NOVEMBER 2, 2016 | FRAUDULENT EMAIL ALERT! There is another fraudulent email scam involving real estate agents which is circulating widely in our area and which we want to bring to your attention. Listing agents have received emails, purportedly from a buyer’s agent, that indicate there is…
Goldstein & Levy, P.A., General Counsel Legal Bulletin JUNE 20, 2016 | NEW MARYLAND LAWS OF INTEREST TO REAL ESTATE PROFESSIONALS Governor Hogan signed the following bills passed by the MD legislature in its most recent session. All of these new laws (or amendments to existing laws) take effect October 1, 2016. Residential Real Property –…
Goldstein & Levy, P.A., General Counsel Legal Bulletin MARCH 15, 2016 | U.S. TREASURY CRACKS DOWN ON CASH BUYERS OF LUXURY REAL ESTATE In an effort to detect money laundering and illegal activity associated with it, the U.S. Treasury Department has imposed new rules requiring title companies to identify and disclose the beneficial owners (shareholders,…
Congress Increases FIRPTA Withholding Rate… FIRPTA is a law passed in 1981 requiring foreign persons to pay U.S. Income tax on the gains they make from the sale of U.S. real estate. The buyer of property sold by a foreign person is legally obligated to withhold a portion of the sales price and report the…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 8, 2016 | MAR Residential Contract of Sale Changes… Please note the following changes that have been made to the MAR Residential Contract of Sale as of February 8, 2016: Paragraph 38 – Paragraph 38 was added to the Contract because some lenders are refusing to…