RealEstateInvestmentTrusts.pptVIP

Real Estate Investment Trusts;Why a REIT?;Real Estate Investment Trusts;Real Estate Investment Trusts;Real Estate Investment Trusts;Real Estate Investment Trusts;Why Invest in REITs;Mortgage REITs;History of Mortgage REITs;History of Mortgage REITs;History of Mortgage REITs;History of Mortgage REITs;Today;REIT Market Update;REIT Market Update;Historical Valuations;Historical Valuations;REIT Registrations;Recent REIT IPOs ;Tax Requirements;Taxation of REITs ;Income Test;Income Test;Income Test ;Asset Test;Distribution Requirements;Prohibited Transactions Tax ;Taxable REIT Subsidiary ;Foreclosure Property ;Captive REITs;Captive REITs;Corporate and Securities Law Issues;Formation;Formation;Maryland law;Maryland permits trustees, without shareholder approval, to amend the declaration of trust to cause a trust REIT to continue to qualify as a REIT under the Internal Revenue Code. The Maryland Business Combination Act (which includes a five-year moratorium on transactions with an interested stockholder, and supermajority vote requirements for business combinations thereafter) applies to a Maryland REIT, unless it opts out of the statute. The Maryland Control Share Acquisition Act also includes REITs and is believed to have the lowest trigger (10%) of any state control share acquisition statute.;Organizational issues;UPREIT (Equity);UPREIT (Mortgage);DOWNREIT;The Paired-Share REIT Structure;External versus internal management;SEC Filings;40 Act Exemption