A Comparative Study And Reference Of Real Estate Investment Trusts

Real Estate Investment Trusts(REITs) originated in the USA in 1960s. As a new real estate financial strategy, REITs allowed investors to participate in the real estate market without a significant amount of money and sharing the profits. China started the work of legal transplantation of REITs. This essay analyses the principles and rules of REITs. Further more, it gives its suggestions.Besides the performance, there are four chapters that can be divided into three partitions.The first part is the theoretical analysis of REITs, including chapter 1 and chapter 2. The chapter 1 introduced origin, concept and features of REITs and distinguish REITs from other similar concepts. It is the basis of follow parts. The chapter 2 analyze the legal structure of REITs. It introduces the processes, legal relations and legal subjets of REITs. This part emphasizes the type of trust REITs and corporation REITs.The second part is the study of oversea REITs, including chapter 3. The REITs system of USA, Singapore and Japan are the main research objects. This chapter introduced the history and main rule of REITs in these countries. And give the author's analysis on the objects.The third part is chapter 4. Firstly, I summarize the barriers of build C-REITs from the introduction of quasi REITs in China. Secondly, I advance the way of building C-REITs in this country. Thirdly, I give suggestions on alteration of law.