Category: News

FINCEN Residential Real Estate Rule

The Residential Real Estate Rule (“RRE Rule”), promulgated by FINCEN, is effective as of March 1. This rule, the aim of which is to combat money laundering and the concealment of beneficial ownership through legal structures, requires a filing when residential real estate is transferred to certain entities or trusts. This rule will impose beneficial ownership reporting requirements (similar to those previously contemplated under the Corporate Transparency Act). The beneficial ownership disclosure requirements apply when all four of the following conditions are met:

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Nov. 1, 2025 New Real Estate Sales Withholding Requirement

On November 1, 2025, a new withholding requirement will go into effect pertaining to sales of Massachusetts real estate in the amount of $1,000,000 or more by non-residents of Massachusetts. You can view the details of this requirement by visiting the following page on Mass.gov. If you have any questions or need assistance regarding real estate matters, the experienced attorneys at MacLean Holloway Doherty & Sheehan, P.C. are happy to assist you. The information provided in this article is for

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The Importance of Appointing a Successor Trustee

The nominee realty trust (commonly referred to as a “nominee trust” or “realty trust”) is an entity unique to Massachusetts that may be familiar to many homeowners in the Commonwealth.  Despite what its name suggests, a nominee realty trust does not meet the legal definition of an actual trust.  In a traditional trust, the trustee has an affirmative duty to administer the trust pursuant to its terms and is authorized to take the necessary actions to carry out the purposes

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Underinsured by Underinsured Motorist Coverage

John is a resident of Massachusetts and owns a motor vehicle and a corresponding Massachusetts automobile insurance policy with the statutorily-mandated coverages.  Those coverages are as follows: (1) bodily injury to others (in the event that John’s negligent operation of his vehicle causes personal injury to another person); (2)  personal injury protection, or “no-fault”, coverage (to pay John’s medical bills, 75% of his lost wages, and replacement services up to a total limit of $8,000); (3) uninsured motorist coverage (in

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Examining Personal Representative and Trustee Fiduciary Duty

Our office has had the pleasure of assisting numerous personal representatives and trustees carry out their fiduciary duties to the beneficiaries of their respective estates and trusts.  Serving as a personal representative of an estate or trustee of a trust can be a daunting challenge.  Many times, the fiduciary inherits an uncomfortable situation, not of their own making, that he or she is responsible for sorting out, all while navigating unique family dynamics.  More often than not, difficult decisions must

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