New Recordation/Transfer Tax Rate Increase on Commercial Properties and Comments to Revised Form FP-7/C

DCLTA Board members recently attended a joint meeting with AOBA (Apartment and Office Building Association of Metropolitan Washington), D.C.Recorder of Deeds Ida Williams, and Robert McKeon (Deputy Chief Counsel with OTR). The topic was the recently enacted Recordation and Transfer Taxes Amendment Act of 2019, which increases the recordation and transfer taxes applicable to commercial

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DISB Bulletin on Partial Government Shutdown

The Department of Insurance, Securities and Banking has issued Bulletin 19-IB-1-1/24 directed to all insurance and banking entities licensed or regulated by the Department regarding financial hardship resulting from the partial shutdown of the federal government. The Bulletin may be downloaded below.  

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Forged Deeds in DC Home Theft Scheme

A 39-year-old man from South Carolina was sentenced Oct. 19  to 18 months in jail on a federal wire fraud charge stemming from a real estate scheme in which he and others used forged deeds and fake driver’s licenses to fraudulently transfer ownership of District of Columbia homes from the rightful owners. For HERE for

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Why you need title insurance

This recent Washington Post account shows exactly why title insurance is such a necessary part of any home purchase. This unfortunate home owner is trying to convey her house to her children, but an old mortgage holder from more than 30 years ago has shown up demanding payment! Find out what the homeowner’s options may

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DC Publishes 2019 Price/Income Limits for First-Time Homebuyers

Updated purchase price and income limits for First-Time Homebuyers for the Tax Year 2019 (effective October 1, 2018) were pushed on p. 9852 of the DC Register on September 21. For Tax Year 2019, the purchase price for an eligible property shall not exceed $632,500.00, and the maximum household income with respect to persons living

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New DC Tax Rates Effective October 2018

GOVERNMENT OF THE DISTRICT OF COLUMBIA OFFICE OF THE CHIEF FINANCIAL OFFICER OFFICE OF TAX AND REVENUE September 5, 2018 District of Columbia Tax Rates Changes Take Effect Monday, October 1 (Washington, DC) – The District of Columbia Office of Tax and Revenue (OTR) reminds tax professionals, software providers, businesses, and others about tax rate

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DCLTA Fall Seminar on November 8

SAVE THE DATE! Our fall educational seminar will be on Thursday, November 8. We plan to have 4 CREDITS of continuing education(*) with check-in beginning at 10:30 AM and the seminar running until our regular finishing time of 4:00 PM. As usual, lunch will be provided. Details will follow, but the tentative schedule is: 10:30

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TOPA Alert – DHCD Workshop 7/25

The Department of Housing and Community Development is conducting a workshop on July 25 between 1:00 p.m. and 3:00 p.m. entitled “Let’s Talk TOPA: New Law Exempts Most Single Family Properties.”   The workshop will provide an overview of the new law, including: Types of single family properties that are exempt Criteria that an elderly or

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Feds Arrest 47 in $14 Million Real Estate Wire Fraud Scheme

The feds have arrested 47 people in the US and abroad and recovered $14 million in Operation Wire Wire a coordinated law enforcement effort by the U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of the Treasury and the U.S. Postal Inspection Service conducted over a six month period. “This operation demonstrates

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DCRA’s Housing Bloom Workshop on June 19

On June 19 from 6:00 to 8:00 PM, DCRA will host Housing Bloom Workshop. Housing Bloom is Mayor Muriel Bowser’s annual month-long initiative that showcases how the public and private sectors are partnering to both produce and preserve affordable housing and revitalize neighborhoods across the District. For more information, contact: Jacqueline Noisette (202) 442-8170. Location: 1100 4th Street

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