Unique Closing Circumstances
On Demand
PREREQUISITES RECOMMENDED
Or 1 year of industry experience
In this 1-hour video training, students will explore a range of unique and less frequent closing circumstances that can significantly influence the structure, timing, and compliance obligations of a real estate transaction. Designed for title professionals who want to advance their industry knowledge, this course offers practical guidance for navigating specialized requirements, tax-related considerations, and federal regulations that extend beyond a typical closing.
Through real-world scenarios and guided discussion, participants will learn how to identify unusual transaction elements early, communicate their implications to clients, and collaborate effectively with closing attorneys, lenders, and tax professionals. Key topics include:
1031 Exchanges
Students will gain a clear understanding of like-kind exchange rules, including property qualification, strict identification and exchange timelines, and the essential role of the Qualified Intermediary. The course outlines common investor strategies, documentation requirements, and issues that can jeopardize compliance or cause delays at closing.
Reduced Intangible Taxes
This section examines situations where buyers or transactions may qualify for reduced Georgia intangible taxes. Students will learn how loan type, property use, corporate structures, and statutory exemptions impact the calculation of intangible tax, along with best practices for verifying documentation and ensuring accurate disclosures.
FIRPTA
(Foreign Investment in Real Property Tax Act)
Students will learn when FIRPTA withholding is required, how to determine a seller’s residency status, and the responsibilities placed on settlement agents and buyers. The course explains how withholding amounts are calculated, when exemptions or reduced withholding certificates may apply, and how FIRPTA impacts documentation and closing timelines.
Tax Reporting Obligations & Why Seller Identification (SSN/EIN) Is Required
This module demystifies the federal tax reporting mechanisms tied to real estate closings, including the requirements for IRS Form 1099-S. Students will understand why settlement agents must collect a seller’s Social Security Number or Employer Identification Number, which transactions trigger reporting, and how missing information can delay or prevent closing.
FinCEN Geographic Targeting Orders (GTOs) & Anti–Money Laundering Compliance
This newly added section introduces students to FinCEN (Financial Crimes Enforcement Network) reporting requirements as they relate to real estate. Students will learn:
By the end of the course, participants will be equipped to anticipate unusual closing circumstances, guide clients confidently through complex requirements, and ensure that all parties remain in compliance with federal, state, and transactional obligations. This training is ideal for anyone seeking a broader understanding of atypical closing scenarios.
NOTE: On Demand videos are not approved for CE/CLE credit and only cover residential closings.
Through real-world scenarios and guided discussion, participants will learn how to identify unusual transaction elements early, communicate their implications to clients, and collaborate effectively with closing attorneys, lenders, and tax professionals. Key topics include:
1031 Exchanges
Students will gain a clear understanding of like-kind exchange rules, including property qualification, strict identification and exchange timelines, and the essential role of the Qualified Intermediary. The course outlines common investor strategies, documentation requirements, and issues that can jeopardize compliance or cause delays at closing.
Reduced Intangible Taxes
This section examines situations where buyers or transactions may qualify for reduced Georgia intangible taxes. Students will learn how loan type, property use, corporate structures, and statutory exemptions impact the calculation of intangible tax, along with best practices for verifying documentation and ensuring accurate disclosures.
FIRPTA
(Foreign Investment in Real Property Tax Act)
Students will learn when FIRPTA withholding is required, how to determine a seller’s residency status, and the responsibilities placed on settlement agents and buyers. The course explains how withholding amounts are calculated, when exemptions or reduced withholding certificates may apply, and how FIRPTA impacts documentation and closing timelines.
Tax Reporting Obligations & Why Seller Identification (SSN/EIN) Is Required
This module demystifies the federal tax reporting mechanisms tied to real estate closings, including the requirements for IRS Form 1099-S. Students will understand why settlement agents must collect a seller’s Social Security Number or Employer Identification Number, which transactions trigger reporting, and how missing information can delay or prevent closing.
FinCEN Geographic Targeting Orders (GTOs) & Anti–Money Laundering Compliance
This newly added section introduces students to FinCEN (Financial Crimes Enforcement Network) reporting requirements as they relate to real estate. Students will learn:
- When Geographic Targeting Orders apply to residential real estate purchases
- Which transactions require title companies to report beneficial ownership information
- How all-cash purchases, LLC/LLP buyers, and high‑value properties may trigger additional scrutiny
- The purpose of FinCEN requirements in detecting money laundering, fraud, and other financial crimes
- What information closing professionals may be required to collect and report
- This segment helps students understand the growing emphasis on transparency and compliance in real estate transactions, particularly in markets frequently impacted by cash purchases and entity buyers.
By the end of the course, participants will be equipped to anticipate unusual closing circumstances, guide clients confidently through complex requirements, and ensure that all parties remain in compliance with federal, state, and transactional obligations. This training is ideal for anyone seeking a broader understanding of atypical closing scenarios.
NOTE: On Demand videos are not approved for CE/CLE credit and only cover residential closings.
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