NHAR President Josh Greenwald recently hosted a virtual forum attended by more than 120 New Hampshire brokers to address various legal and legislative updates impacting the real estate industry.
The meeting included several members of the New Hampshire Department of Environmental Services, addressing the new shoreland septic law, new laws and regulations related to boathouses, and underground fuel tanks on properties. The interactive session also included a legislative update from NHAR CEO Bob Quinn and a legal update from Matt Johnson.
To view the Broker Forum in it's entirety, click here.
Additional resources related to the meeting:
- NHDES Fact Sheet: Transfers of Waterfront Properties with Individual Sewage Disposal Systems in the Protected Shoreland
- NHDES: Over-water boathouses allowed under revised wetlands rules
- Contact for Phil Trowbridge, P.E., Manager of the Land Resources Management Program, Water Division, New Hampshire DES: P.O. Box 95, Concord, NH 03302-0095; 603-271-4898, Philip.R.Trowbridge@des.nh.gov
Also of note: A federal district court in Texas has vacated the Financial Crimes Enforcement Network's (FinCEN) Residential Real Estate Anti?Money Laundering (AML) Rule, holding that the agency exceeded its statutory authority under the Bank Secrecy Act (BSA) and violated the Administrative Procedure Act (APA).
As a result, the rule has been set aside. FinCEN posted a statement noting, “In light of a federal court decision, reporting persons are not currently required to file real estate reports with FinCEN and are not subject to liability if they fail to do so while the order remains in force.”
Neither the Department of Justice (DOJ) nor FinCEN has yet indicated whether there is a plan to appeal the ruling. DOJ may also seek a stay of the decision if they choose to appeal, which could reinstate compliance obligations until an appellate court rules.
