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Who Is a Real Estate Developer?

April 26, 2017Developer fintrac legal obligations money laundering Real Estate slides terrorism

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Who Is a Real Estate Developer?

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• Any individual or entity that has sold to the public, in a given year (after 2007), any of the following: • Five or more new dwelling units • One or more new commercial or industrial buildings • One or more new multi-unit residential buildings (that total five dwelling units or more) • Land development and the sale of land without homes or other buildings is not covered. • Excludes sales by real estate brokers and licensed real estate sales representatives as they have their own obligations.