建立房地产投资信托法律制度-完善我国房地产金融体制-法律专业论文.docxVIP

提要作为国民经济的先导产业，房地产业一直被评为中国当前赢利最高的行业之 提要 作为国民经济的先导产业，房地产业一直被评为中国当前赢利最高的行业之 一，但是近几年随着金融监管的加强，房地产开发商传统的融资渠道不再像以往那 样畅通，寻找新的融资渠道对中国房地产业至关重要；改革开放的二十多年，中国 的民间资本已经经历了从原始积累到再资本投资的过程，如何创造一个安全、收益 稳定投资工具对广大投资则来说也是十分重要的。房地产投资信托恰恰可以解决上 述两个问题。 本文从房地产投资信托的起源、发展开始，以实证的分析方法，从法律角度分 析美国、德国的房地产投资信托制度的建立、运行和监管；以图示的方法阐明投资 者，投资公司以及银行等机构分别作为受益人、委托人和受托人的法律地位及各主 体之间的法律关系。此外，本定针对中国的法律状况，分析了房地产投资信托在我 国法律框架下的法律地位和性质，并对中国相关的立法作了简要地分析。 最后，本文从我国房地产金融现状出发，论证建立适应我国国情的房地产投资 信托制度是必要的和必然的。 Abstract Real estate industry,which takes the leading role of a nation’s economy．has for many years been depicted as one of the most profitable industry in China，but with the sirengt，hened financiaI regulation in recent years．real estate developers find the traditionaI financing channels are not as expedite as before，thus，to seek a new financing ehannel is criticaI to the reaI estate industry of China；the over．20 years time of reform and opening has witnessed the transition of Chinese private capital from preliminary accumulation to capital reinvestmcnt，how to create a secure and steady．income．flowing 1nvestment vehicle is so important to the grass investors．The REIT is the key to the two problems aforesaid． This article，from the perspective of law,analyzes the foundation，operation and regulation of the REIT system in America and Germany by way of positive analysis；set forth the legal relations between investors．investment company and banks respectively acting as beneficiary,trustor and trustee，and the legal status ofthe three parties by graph． In addition，according to the current legal conditions，this article analyzes not only the legal status of REIT in China’s legal system but the relevant legislation regarcling REIT． At the end，based on the current real estate financing conditions．it also demonstrates that establishing REIT system which is compatible to China’s situation is necessary and doomed． 绪论我国房地产金融现状房地产业是国民经济中的先导产业，其重要性小到满足百姓的居家生活，大到 绪论我国房地产金融现状 房地产业是国民经济中的先导产业，其重要性小到满足百姓的居家生活，大到 保证国家财政收入和带动国民经济发展，因此发展好房地产业至