Spano Abstract Service Corp.

A Lifetime In the Title Insurance Industry.

Items of Interest

Items of Interest

Watch here for items of interest to the Real Estate Community. Check back often!

Changes & Developments: New Financial Crimes Enforcement Order

Changes & Developments: New Financial Crimes Enforcement Order

On July 17th, 2016, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U. S. Department of Treasury, issued Geographic Targeting Orders to all title companies. The orders impose temporary new data collection and reporting requirements for all cash purchases of residential real estate by corporate entities in certain counties. Under the Order, title companies, including any subsidiaries and agents of (“Covered Business”), must report the names of all natural persons with 25% or greater ownership interest in a legal entity, or the names of all members of an LLC. This reporting requirement runs from August 28, 2016 through February 23, 2017. Follow the link below for further information.

FinCEN FACT SHEET

Special Events

Special Events

Join us, October 15, 2016, 7:30 PM, at The Madison Theatre at Molloy College, Rockville Centre, NY for a great evening of Jazz with incredible Guitarist RUSS FREEMAN and his band THE RIPPINGTONS.
Join us for a great evening of Jazz!

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Providing Quality Title Insurance Services Since 1985