The Real Deal featured Alexander M. Parthemer, an attorney from Jones Foster’s Private Wealth, Wills, Trusts & Estates and Corporate & Tax practice groups, in its in-depth coverage of the rollback of the Corporate Transparency Act (CTA) and its impact on real estate and corporate transactions.
In the article, Mr. Parthemer addressed how current financial disclosure systems may fall short in identifying the true beneficial owners of real estate assets, particularly in the absence of strong reporting requirements under the revised CTA rule.
“It’s easy to layer a couple of different LLCs and hide who controls that,” he said. He also pointed out that even banks may not always know when ownership changes hands behind the scenes.
Read the full The Real Deal article (subscription required): Jones Foster Attorney Alexander M. Parthemer Offers Insight on Loopholes in Corporate Transparency Act Rollback
