On Jan. 1, 2021, the U.S. Senate joined the House in voting to override President Trump’s veto of the National Defense Authorization Act of 2021 (NDAA), which includes several new anti-money laundering (AML) provisions that may be of keen interest
The Cultural Assets blog published by Greenberg Traurig, LLP focuses on legal issues surrounding art, antiquities, and cultural property. It covers topics such as anti-money laundering regulations affecting art dealers and antiquities traders, restitution and repatriation of cultural objects, legal challenges related to art consignment and fraud, and tax considerations for artwork ownership and transfers. The blog also discusses legislative developments impacting cultural property protection, including import restrictions and federal coordination efforts. It addresses the intersection of art markets with compliance, enforcement, and international cultural heritage law, providing insights relevant to legal practitioners, collectors, dealers, and institutions involved in cultural assets.
Kevin Ray authored an article for the December 2015 issue of The Secured Lender which discusses art consignment fraud. Click here to read the full article.
This article is the third in a five-part series discussing the restitution, repatriation, and return of cultural objects. Each part addresses a different category of return. The first article in the series (available here) addressed the restitution of stolen…
Written by William E. Keenen
Under U.S. law, a tax generally is imposed whenever one individual gratuitously transfers an interest in property to another. This tax is computed on the value of the property interest transferred, whether during one’s life…
Written by Hugo López Coll, Luis Torres and Guillermo Miranda*
It is impossible not to be deeply moved by Diego Rivera’s Vendedora de Alcatraces, Frida Kahlo’s incredible self-portraits, or José Clemente Orozco’s El hombre en llamas, all of which…