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New rules aim to uncover real owners of NY properties

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Seeking to increase transparency in the luxury real estate market, the administration of Mayor Bill de Blasio has imposed new disclosure requirements on shell companies buying or selling property in New York City.

New York

SEEKING to increase transparency in the luxury real estate market, the administration of Mayor Bill de Blasio has imposed new disclosure requirements on shell companies buying or selling property in New York City.

The changes will help remove a "veil of secrecy"

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