BORN BEFORE 1968? DON'T IGNORE This New Requirement If You Own a Home in the USA

Introduction to New Compliance Risks00:00:00

Millions of homeowners born before 1968 are currently at risk due to new, poorly communicated federal property compliance requirements. This video addresses how these changes impact equity, taxes, and legal ownership.

Lead-Based Paint Disclosure00:04:50

For homes built before 1978, federal law now requires updated lead-based paint documentation for renovations exceeding specific surface areas. Failure to use certified EPA RRP contractors can lead to significant delays and costs during a future home sale.

Title Clarity and Chain of Ownership00:07:35

Automated systems in 33 states are flagging potential title gaps, particularly for inherited properties or those where a spouse has passed away. Homeowners should verify their deeds to ensure ownership records are current to avoid expensive legal corrections.

Homestead Exemption Reverification00:10:32

In 29 states, counties are conducting periodic reverifications of homestead exemptions. Failure to respond to these notices can lead to the loss of tax exemptions and potential back-tax liabilities.

Flood Zone Redesignations00:13:33

Under FEMA's Risk Rating 2.0, many homes previously outside flood zones are being reclassified. Homeowners should check their status at msc.fema.gov to avoid mandatory, high-cost insurance force-placed by lenders.

Beneficial Ownership Information Reporting00:15:24

Under the Corporate Transparency Act, homeowners holding property in trusts or LLCs may be subject to new FinCEN reporting requirements. Failure to comply can result in severe daily civil penalties; consulting an attorney is highly recommended.

Avoiding Scams and Final Action Plan00:18:49

Be wary of fraudulent communications demanding immediate payment regarding these requirements. The video concludes with a summarized action plan to protect your home by verifying records through official government channels.