November 2019
Beginner
208 pages
4h 52m
English
Content preview from Real Estate Accounting Made Easy, 2nd Edition
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3FORMS OF REAL ESTATE ORGANIZATIONS
Real estate ventures are organized in numerous forms. This chapter explores these forms and presents an in-depth analysis of the characteristics of each.
The form of ownership of a real estate venture is important because it has a direct impact on the nature and extent of risks assumed and tax benefits and burdens applicable to the business entity. The ownership structure also impacts the extent of control by investors. Investors have choices on the form of ownership structure to hold their real estate investments. If an investor wants to go it alone, he or she can acquire property under his or her name, which is most common in the acquisition of a primary residence. But when the real estate acquired is for investment purposes, investors are better served when they use the other forms of ownership structures. The seven most widely used forms of real estate ownership are:
- Sole ownership
- Common and joint ownership
- Partnership
- Joint venture
- Corporation
- Limited liability company
- Real estate investment trust (REIT)
SOLE OWNERSHIP
Sole ownership occurs when ownership is in the name of a single individual. This is one of the most common forms of ownership of primary residences and small multifamily residential real estate properties. An investment property can also be held through sole ownership; however, one disadvantage of this form of ownership is that unlike some others, the investor has unlimited liability above and beyond the amount of ...
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