What's my role? While Settlement Agents are responsible for filing, Real Estate Agents play a critical role in identifying reportable transactions and preparing clients for a smooth transaction. You'll need to: 1) Ask early if the buyer is an LLC, corporation, or trust and immediately alert the settlement agent if there are any changes. 2) Confirm whether financing involves a lender with an anti-money laundering (AML) program. 3) Help Buyer and Seller clients timely gather o

What Transactions are Reportable? A transaction must be reported if: The property is residential real estate (including condos, town-homes, co-ops, and vacant land intended for 1–4 family structures) The transfer is non-financed (e.g., all-cash) or the lender does not have an anti-money laundering (AML) program The buyer is a legal entity or trust No exemption applies What type of information will be collected from sellers? General Information about the individual, legal ent