SCR News Feed

https://www.nar.realtor/videos/window-to-the-law/updates-to-anti-money-laundering-rules https://www.nar.realtor/money-laundering-and-terrorism-financing https://www.nar.realtor/washington-report/fincen-extends-the-beneficial-ownership-rule-reporting-deadline-for-certain-entities https://www.nar.realtor/washington-report/fincen-issues-final-beneficial-ownership-access-rule https://www.fincen.gov/boi https://www.nar.realtor/washington-report/nar-engages-with-treasury-on-beneficial-ownership-matters SPE, Beneficial Ownership Filing, Special Purpose Entity Posted by: Byron King on 05/24/24 (This information is only accurate as of 05/24/24. You must contact SCR for updates and changes to this information after 05/24/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org [...]

https://www.scstatehouse.gov/query.php?search=DOC&searchtext=4754&category=LEGISLATION&session=125&conid=37998232&result_pos=0&keyval=1254754&numrows=10 Some excerpts on wholesaling: (44) "Wholesaling" means having a contractual interest in purchasing residential real estate from a property owner, then marketing the property for sale to a different buyer prior to taking legal ownership of the property. Advertising or marketing real estate owned by another individual or entity with the expectation of compensation [...]

Read the new license law in the link below here. Stay tuned to SCR for education on the new license law. https://www.scstatehouse.gov/query.php?search=DOC&searchtext=4754&category=LEGISLATION&session=125&conid=37998232&result_pos=0&keyval=1254754&numrows=10 Posted by: Byron King on 05/21/24 (This information is only accurate as of 05/21/24. You must contact SCR for updates and changes to this information after 05/21/24 as laws and regulations may change [...]

Thanks to the SCR CFO Alan Leichtle for compiling the hotline statistics and automating the hotline software. Thanks to the SCR hotline administrator Shantee Albin too! 1. Forms. FYI the SCR standards forms committee has been meeting and will continue working on updates to the SCR standard forms for the SC license/laws and settlement updates. [...]

Only the BIC is required to hold a business license. Associated licensees operate under their BIC's business license. Typically, a BIC will hold one or more business licenses for all jurisdictions where business is conducted in that year (e.g., a listing closes in Spartanburg, then a Spartanburg Business License and a listing closes in Greenville, [...]