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Simple English definitions for legal terms

UPREIT

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A quick definition of UPREIT:

An UPREIT is a type of real estate investment trust (REIT) that manages a portfolio of real estate properties. The majority of the trust's income is distributed to its shareholders, and it may qualify for special income-tax treatment if it distributes 95% of its income to its shareholders. An UPREIT controls and holds most of its properties through an umbrella limited partnership, which allows the trust to acquire properties without triggering immediate tax obligations for certain sellers. Many REITs now use this structure.

A more thorough explanation:

An UPREIT is an abbreviation for "umbrella-partnership real-estate investment trust." It is a type of real-estate investment trust (REIT) that controls and manages a portfolio of real estate properties. The majority of the trust's income is distributed to its shareholders.

A REIT is a company that invests in real estate and distributes most of its income to its shareholders. It may qualify for special income-tax treatment if it distributes 95% of its income to its shareholders.

An UPREIT is a structure that many REITs now use. It allows the trust to acquire properties in exchange for the limited-partnership interests in the umbrella without triggering immediate tax obligations for certain sellers.

Example 1: ABC REIT owns several commercial properties, including a shopping mall and an office building. The trust collects rent from tenants and distributes most of its income to its shareholders.

Example 2: XYZ REIT is an UPREIT that controls and manages its properties through an umbrella limited partnership. The trust can acquire properties in exchange for the limited-partnership interests in the umbrella without triggering immediate tax obligations for certain sellers.

These examples illustrate how REITs and UPREITs work. They invest in real estate properties and distribute most of their income to shareholders. UPREITs use a specific structure that allows them to acquire properties without triggering immediate tax obligations for certain sellers.

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General

General chat about the legal profession.

General >T14 Off Topic

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limpweeny

19:00

and been physicists and all that cool shit

limpweeny

19:00

instead we boutta do civ pro

Eggan

19:00

ur unreal

Eggan

19:01

i cant believe i would have been enrolled at UCI rn... its definitely a great school i just didnt feel like i fit in with the other students when i did pre orientation there

Eggan

19:02

also they didnt give me enough money to justify the cost

UnsuitableMaliciousHedgehog

19:03

Roll Tide

Dkk

19:06

UCI hella liberal and trans. I think you would like it. More liberal than like Berk and UCLA if you can imagine. @Eggan

Dkk

19:06

I did astrophysics for 3 years and hated it. Dropped out of my first college cus of it. @limpweeny

Dkk

19:07

Do not recommend studying physics. Super boring, a lot of math, and most results are not replicable.

Dkk

19:08

Ill say this though. I studied a lot of Otto Hahn and was happy to see him at the start of Oppenheimer. Made a little appearance. Nice tribute.

Eggan

19:08

@Dkk: i know the makeup of UCI but im not from california and i didn't like how i'd have to be isolated from the labor movement since it's not very close to LA and OC is mostly a bunch of rich people tbh

Eggan

19:09

i like berk's proximity to san francisco. the bay area is full of surprises when it comes to labor

Eggan

19:11

thats why i'm mostly centered on cities with major labor activity this cycle (besides chicago) such as NYC, boston DC (where the union headquarters usually are)

sadpadresfan

19:11

Anyone else hella concerned w the uptick in applicants? Not sure if I can use the LSD data of the past to reference

KnowledgeableRitzyWasp

19:12

some dean said they're only expecting 5-15% increase over the whole cycle, still not great, but not 30% like currently

sadpadresfan

19:15

Ohhh okay thank goodness. I saw +38% and lowk got scared

sadpadresfan

19:16

That doesn’t seem too bad if they increase class size by a bit 🙏

Dkk

19:23

Ahh that is true but OC Disney Unions. Can always be involved in those. Some of the biggest unions in California. I was part of that for a couple years but my union was corrupt. @Eggan

Dkk

19:24

Berk is definitely more fun. Unions in LA are of course the screen actors guild and then hospitality stuff like restaurants. It will be good wherever you go imo if that is what you are into.

Dkk

19:25

@sadpadresfan: yeah, Spivey said the same thing wasp pointed out. 30% to start to 15% at the end. I think part of it may also be people just want more variety. Maybe a similar amount of applicants but more variety. More waitlist movement potentially this year. Schools fighting harder for people.

texaslawhopefully

19:57

@KnowledgeableRitzyWasp: the NU dean. Him and Spivey did a podcast on it.

texaslawhopefully

19:58

And if you look at the numbers they're starting to come down. A couple weeks ago we were up 36 percent up, now we're only 26 percent up.

NotJustALawyer

21:03

@texaslawhopefully: if you are trying to do texas law, why not go to UT Austin. Probably better scholarships for you compared to Harvard and its a pipeline. Unless, of course, scholarships don't matter in your case.

jackfrost11770

21:17

i studied hard stem but i just hate being in an actual lab lol

jackfrost11770

21:18

depends on the type of lab work that you do, the only thing i did enjoy doing was bacterial genetics because that shit is super fast and fun, but working in a wet lab is just a lottttt of sitting and waiting around

jackfrost11770

21:18

hence law, lmao

texaslawhopefully

21:33

@NotJustALawyer: I'm trying to do an appellate clerkship and the very top schools just have better placement. And yes, I'm still considering UT, but I think with my numbers I can get scholarship money at most of the T14.

texaslawhopefully

21:37

Also I made my username before I had my lsat back and then UT was my top choice, but I’ve been somewhat open geographically. I also have ties to Texas so I don’t think it’d be hard to get back here if I left the state for law school.

Dkk

21:52

Deja Vu lol

[] baddestbunny

22:07

GM to the Queens whose titties move when they drive over speed bumps 🥰😘.. To the rest of y'all young men, Jiffy Lube hiring 🤨

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