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Landlord Tenant Investment Trust REIT Due Diligence Supplemental...

Hillsborough Florida Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist

Name: Hillsborough Florida Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist
Brand: US Legal Forms
Rating: 4.66 (406 reviews)

Category:

Corporations - Due Diligence

State:

Multi-State

County:

Hillsborough

Control #:

US-DD0907

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Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist

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Income testing is a vital aspect of compliance for real estate investment trusts (REITs). These income tests are based on the gross income, as computed for tax purposes, from the various properties that a REIT owns, including the REIT's share of income from underlying partnerships (based on its capital ownership).

If we fail to satisfy one or more requirements for REIT qualification, other than the gross income tests and the asset tests, and the violation is due to reasonable cause, we may retain our qualification as a REIT but will be required to pay a penalty of $50,000 for each such failure.

Due Diligence is a process that involves risk and compliance check, conducting an investigation, review, or audit to verify facts and information about a particular subject.

The due diligence fee is paid directly to the seller. Before the end of the due diligence period, the buyer has the right to terminate the contract for any reason or no reason at all, while the seller remains bound by the terms of the contract.

How Long Does Due Diligence Take? Typically, the due diligence period will last for 45-180 days, depending on the sophistication of the buyer and complexity of the deal. With more complicated deals, it could last six to nine months.

Due diligence is an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.

REITs must always be compliant with the annual 75 and 95 percent gross income tests. Passing these tests must be considered not only when REITs look to acquire new properties, but also during ongoing operations at existing properties.

To qualify as a REIT, a company must have the bulk of its assets and income connected to real estate investment and must distribute at least 90 percent of its taxable income to shareholders annually in the form of dividends.

Private REITs. Instead, private REIT offerings are private placements and rely on an exemption from the obligation to register with the SEC. Investors are typically limited to accredited investors.

The process is your chance to investigate the physical and financial facts of a property, to find out if a prospective property is what the seller claims it is. Due diligence allows you to make an informed decision about whether a certain house or condo is the right investment for you.

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The information in this prospectus is not complete and may be changed. Here's what Florida landlords (and tenants) need to know about mold and the law.The trust invests in a portfolio of tax-exempt municipal bonds. Health care facilities, utilities and industrial development bonds. Our taxable REIT subsidiary is subject to corporate federal and state income taxes. Amendments to Investment Guidelines and Operating Policies . Owner and nominee for The Depository Trust Company ("DTC") of New York, New York. REIT real estate investment trust.

Hillsborough Florida Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist

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What is the REIT income test?

What happens if a REIT fails the income test?

What is considered due diligence?

Who pays for due diligence?

How long does a due diligence take?

What is due diligence and how do you perform it?

When must a REIT calculate its income test?

What are the requirements for REIT?

Does a REIT have to register with SEC?

What is due diligence in rental property?

Interesting Questions

What is the purpose of the Hillsborough Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist?

What does REIT stand for?

Why is due diligence important when investing in real estate?

What should I look for in the Hillsborough Landlord Tenant Investment Trust REIT Due Diligence Supplemental Checklist?

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What are some important items to consider in the financial section of the checklist?

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