Federalizing Real Estate Transactions

Most real estate transactions are governed by state law and local custom, not federal law. But a massive federal law enacted shortly after the 9/11 terrorist attacks raises the specter that the federal government may intrude into commercial real estate transactions in ways heretofore thought unimaginable. Known as the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ('USA Patriot Act'), the legislation has led the federal government to propose rules designed to combat money laundering and terrorist financing in these types of transactions.

18 minute read August 27, 2003 at 04:56 PM
By
Kevin L. Shepherd
Federalizing Real Estate Transactions

Most real estate transactions are governed by state law and local custom, not federal law. But a massive federal law enacted shortly after the 9/11 terrorist attacks raises the specter that the federal government may intrude into commercial real estate transactions in ways heretofore thought unimaginable.

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