Posted on 01/15/2016 8:53:47 AM PST by Citizen Zed
Concerned about illicit money flowing into luxury real estate, the Treasury Department said Wednesday that it would begin identifying and tracking secret buyers of high-end properties.
The initiative will start in two of the nation's major destinations for global wealth: Manhattan and Miami-Dade County. It will shine a light on the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers' identities.
It is the first time the federal government has required real estate companies to disclose names behind cash transactions, and it is likely to send shudders through the real estate industry, which has benefited enormously in recent years from a building boom increasingly dependent on wealthy, secretive buyers.
The initiative is part of a broader federal effort to increase the focus on money laundering in real estate. Treasury and federal law enforcement officials said they were putting greater resources into investigating luxury real estate sales that involve shell companies like limited liability companies, often known as L.L.C.s; partnerships; and other entities.
Future investigations, they said, will focus increasingly on professionals who assist in money laundering, including real estate agents, lawyers, bankers and L.L.C. formation agents.
Officials said the new government efforts were inspired in part by a series last year in The New York Times that examined the rising use of shell companies as foreign buyers increasingly sought safe havens for their money in the United States.
(Excerpt) Read more at nytimes.com ...
Bet a lot of that money comes from ChiComs.
Yes.
They’ll simply pull their money out.....then what?
Unless your a friend of the regime....
..... then they buy you luxury real estate
Long over due. We should know the beneficial owner of every piece of property. There are lots of tyrants and gangsters who shelter money in real estate. All of it should be a available to the legal system.
Don’t be naive, the ruling class will be protected.
We don’t need gun control, we need government control.
5.56mm
Who knows what will happen.
But currently house prices in many areas are way high.
So...like Sotero's new mansion in Dubai then?
Rear Admiral Rick Williams, posted a "pointed" query on 8 January [since deleted] to the US Naval Institute's "Readiness Kill Chain" "recipients/responders" list as to why Navy security and intelligence personal had been dispatched from Naval Support Facility Thurmont (aka Camp David) to Dubai on what he termed an "Obama house hunting mission".
The Nature Conservancy is by far the largest land owner in the United States, buying up much of the most valuable real estate in the nation. The nonprofit holds the rights to land filled with yet to be tapped natural resources, prime agracultural land, and lands bought exclusively to claim ownership of ‘water rights’. In the arid western states, ownership of that water determines who can grow crops, who has water for a mining operation, and will eventually determine which small communities as well as large cities will be allocated enough water to even exist. The Nature Conservancy has a policy of permitting oil drilling, timbering, mining, and natural gas drilling on land donated to the Conservancy. The Conservancy has ties to roughly 1900 corporate sponsors. Its governing board consists of numerous executives and directors of oil companies, chemical producers, auto manufacturers, mining concerns, logging operations, and electric utilities.
IMHO, The Conservancy may not be a place to attempt to launder money, but it certainly IS a place to make large ‘donations’ with the knowledge that in the future, with the ‘right’ governing board decisions, the return payoffs on allowing a ‘environmentally sound’ mining operation to take place here, a ‘sustainable’ logging operation or cattle ranch to take place over there, with the added advantage of donations from ‘good intentioned’ libtards to help finance such, is even more devious and hurtful to our nation’s natural resource interests and our overall economy than parking ill gained cash in real estate holdings.
Just for fun, here’s the most recent list of the largest land owners in the United States:
1. John Malone
2. Ted Turner
3. Emmerson Family (up 54,000 acres)
4. Brad Kelley
5. Reed Family
6. Irving family
7. Singleton Family
8. King Ranch Heirs
9. Stan Kroenke
10. Pingree Heirs
11. Ford Family
12. Lykes Heirs
13. Briscoe Family
14. W.T. Waggoner Estate
15. O’Connor Heirs
15. Wilks Brothers (up 152,500 acres)
17. Simplot Family (up 21,091 acres)
18. Philip Anschutz
19. Drummond Family
20. Holding Family
21. Hughes Family
22. Malone Mitchell 3rd
23. D.R. Horton (up 109,000 acres)
24. Collins Family
25. Nunley Brothers
26. Jeff Bezos
27. Mike Smith (up 23,000 acres)
28. Collier Family
29. Kokernot Heirs
30. Anne Marion
31. Babbitt Heirs
32. Llano Partners
33. Lyda Family
34. Jones Family
34. Killam Family
34. True Family
37. Reynolds Family
38. Paul Fireman
39. D.K. Boyd
40. Koch Family
41. Riggs Family (up 133,495 acres)
42. Kenedy Memorial Foundation (NEW TO LIST)
43. Bidegain Family
44. Scott Family
45. Louis Moore Bacon
46. East Family Foundation (up 729 acres)
47. Hearst Family
48. Gage Heirs
49. Cassidy Heirs
50. Langdale Family
50. Eugene Gabrych
50. Hunt Family
53. Bogle Family (down 10,000 acres)
54. Williams Family
55. Robert A. Funk
56. McCoy & Remme Families
57. Russell Gordy
58. Broadbent Family
58. Irwin Heirs
60. Sugg Family
61. Fasken Family
62. Mike Mechenbier
63. Cogdell Family
63. Fanjul Family
65. JA Ranch Heirs
66. Ellison Family
67. Bass Family
67. Boswell Family
67. Eddy Family
67. Green Heirs
71. David Murdock
72. Wells Family
73. L-A-D Foundation (up 1,000 acres)
74. Don Oppliger (up 6,322 acres)
75. Benjy Griffith III (down 80,000 acres)
76. Gerald J. Ford
77. Arthur Nicholas (up 38,983 acres)
78. Stefan Soloviev
79. Patrick Broe
80. Harrison Family
80. Lane Family
82. Crosby Family
83. Ellwood Heirs
83. Monahan Family
83. Parker Ranch Foundation Trust (NEW TO LIST)
86. Reese Family (up 7,400 acres)
87. Davis Heirs
88. Booth Family
88. Brite Heirs
90. Milliken Family
91. Roxanne Quimby
92. Moursund Family
93. Frank VanderSloot (up 3,000 acres)
94. Clayton and Modesta Williams
95. Stan Harper
96. Linnebur Family
97. Luther King
98. Robinson Family
99. Butler Heirs
100. Beggs Family
100. Powell Family
100. Yates Family
http://www.landreport.com/americas-100-largest-landowners/
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