Available in:

OnDemand Course

Primer on Real Estate Investment Trusts

Become familiar with the use of REITs and the tax rules that apply to these increasingly utilized investment structures.

REITs are the investment vehicle of choice for holding interests in a diversified portfolio of real estate properties, as opposed to owning an interest in a single property. Estimates are that more than $300 billion are currently invested in publicly traded REITs and more than $70 billion are invested in nontraded REITs. As the interest in alternative assets rises and real estate is being increasingly examined as presenting a significant gain opportunity given current market conditions, more investors, including nontraditional real estate investors, such as retirement plans and charitable organizations, are examining the ownership of REIT shares as part of their portfolio. Learn about the uses, advantages and disadvantages of the REIT structure for owning real estate. Hear a discussion of the basic tax rules that relate to REIT formation and operation, including the organizational rules, asset tests, income tests, distribution requirements, and the taxation of the REIT and its shareholders. Certain structural alternatives associated with REITs, including the use of subsidiaries, QRSs and TRSs, and partnerships, UPREITs and DOWNREITs, will be reviewed; as well as changes made to the REIT provisions in the Protecting Americans from Tax Hikes Act of 2015 (signed 12/18/2015).

102 minutes
Course Exam
Certificate of Completion
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

REITs - General Concepts

  • Uses
  • Advantages and Disadvantages Compared to Other Investment Vehicles for Real Estate

Formation and Organization Rules

  • Structure of Entity
  • Management by Directors
  • Shares
    • Transferability
    • Number of Shareholders
    • Closely Held Restriction
  • Corporate Tax Issues
    • Classification Rules
    • Distribution of E&P
  • Election
  • Other Tax Issues at Outset
    • No Financial Institution or Insurance Company
    • Calendar Tax Year

Qualification Rules

  • General
  • Asset Tests
  • Income Tests

REIT Subsidiaries

  • QRS
  • TRS

Required Distributions

  • 90 Percent Test
  • Timing of Dividends

Taxation of REITs and Their Shareholders

  • REIT Taxation
  • REIT Shareholder Taxation

Partnerships Used in REIT Structures

  • UPREITs
  • DOWNREITs
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on April 20, 2020.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Leo N. Hitt

Leo N. Hitt

Reed Smith LLP

  • Partner in the Pittsburgh office of Reed Smith LLP, a global law firm, in its tax practice and former head of the Tax, Benefits, and Wealth Planning Group
  • Practice emphasizes all aspects of federal income taxation, with particular emphasis on the taxation of business entities, such as partnerships and corporations, securitized and other investment vehicles, including RICs, REITs, and REMICs
  • Conducts seminars and workshops on numerous topics for a large number of professional groups, including lawyers, accountants, and business people
  • Author of several publications related to the areas of the federal income taxation of business entities and other related topics
  • Adjunct professor at the University of Pittsburgh School of Law
  • Listed in Best Lawyers in America for tax law for more than 10 years and achieved the highest rating by Martindale-Hubbell Law Directory
  • Member of the Board of the Pittsburgh Tax Club and member of the Allegheny Tax Society
  • LL.M. degree in taxation, New York University School of Law; J.D. degree, University of Pittsburgh School of Law; B.A. degree, University of Pittsburgh
  • Can be contacted at [email protected] or 412-288-3298
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 406713
Published 2020
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!