房地产投资信托本土化的法律问题及制度构建.pdfVIP

A b str a c t S ince th e 1990s，C h inas real estate indu stry has been develop in g rap idly. It h as b ecom e a p illar industry of C h ina. B ut in recent years，real estate finan cing encoun ters great pressure due to the strengthen ing of governm ent regu lation and finan cial regu lation . It is im perative to C han ge the single finan cin g structure an d exp lore n ew financing channels for real estate bu siness today. M eanw h ile, w ith the developm ent of econom y an d the accum ulation of private cap ital, m ore and m ore inv estors are pressing to seek new investm ent ex it. A t th is m om ent R E IT s em erges w hich can so lv e th e prob lem above. R eal E state Inv estm ent T ru sts (R E IT s) is a financial inn ovation in the U n ited States in the 1960s, as th e resu lt of both the developm ent of real estate an d finan ce to a certain stage. It has p layed an im portant ro le to the prom ote real estate and cap ital m arkets. T h is paper introdu ces the basic theory, the legal relations, developm ent of th e real estate investm ent trusts. T hen w e w ill analyze the legal prov ision s of the R E IT s in other countries, follow ed by a com prehen sive, deep discussion about legal issues on tran sp lanting R E IT s to the soil of C hina. F inally I put forw ard m y ow n ideas an d suggestion s. T he text of th is paper con sists of four m ain p arts: C hapter one is an overview of real estate investm ent tru sts. In th is part the author introduces the legal basis, content, feature of R E IT s, then analyzes the difference betw een the related concepts, and briefly review its origin and developm ent. C hapter tw o defm ites the valu e and lists the classification of R E IT s, discu sses the different R E IT s, esp ecially corporate R E IT s and contractual R E IT s. W e can h old the essence through the surface, understan d a