Real estate and property law is an extensive legal area, regulated by federal and state statutes, as well as common law. Many aspects of this area overlap with contract law. The terms “real estate”, “realty” and “real property” are generally used interchangeably, although many people associate “real estate” more closely with structures or buildings and land. However, real property/real estate encompasses more than just the obvious tangible aspects. It comprises land and that which is attached to or belongs with the land (such as the immovable structures like buildings, houses, trees, bushes and minerals permanently affixed to the land). It also consists of the interests, benefits and rights that are legally attached to the real property, which can include certain rights to the air above the land, to drill in the ground beneath it, rights to live on the property for a specific timeframe or to acquire the real property in the future, and more.
C. Bruce Willis, II heads the Real Estate and Property Law group for the Firm.
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Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting
Deadline; FinCEN Announces Intention to Revise Reporting Rule
Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, the Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025 for most companies.
FinCEN has also announced that it will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks. FinCEN intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
Notice: https://www.fincen.gov/sites/
Contact [email protected] for more information!