The many different types of ownership available in commercial real estate and their implications are covered in this course.  Issues addressed include liability, taxes, regulations, set up and management, as well as the benefits and drawbacks to each.

TIME	CONTENT		LEARNING OBJECTIVES After this segment, the student will be able to:
40 min	Partnerships and limited liability partnerships (LLP's)		Examine the liability issues (unlimited liability) and the tax issues (pass through taxation) as they pertain to partnerships and differentiate between partnerships and limited liability partnerships (LLP's).
30 min	Limited partnerships		Examine the liability issues (unlimited for general partners, limited for limited partners) and the tax issues (pass through taxation) as they pertain to limited partnerships.
30 min	Formation of limited partnerships		Outline the articles of the Uniform Limited Partnership Act and summarize how they affect the formation of limited partnerships.
40 min	Formation of corporations		Analyze the steps that must be followed when forming a corporation.
20 min	Regular or "C" corporations		Define double taxation and explain how it applies to "C" corporations.
20 min	Subchapter "S" corporations		Distinguish between "S" corporations and "C" corporations and summarize the restrictions "S" corporations must meet to qualify for pass through taxation.
20 min	Characteristics of limited liability companies (LLC's)		Compare limited liability companies to other entities in terms of liability, tax angles and terminology.
30 min	Real Estate Investment Trusts (REIT's)		Explain the criteria that REIT's must meet to qualify for pass through taxation.
30 min	1986 Tax Reform Act		Evaluate the changes that occurred with the 1986 Tax Reform Act and how they impacted tax shelters in the real estate market.
30 min	Securities issues in real estate		Review some securities issues in the real estate market and illustrate with examples.
30 min	Public offerings of securities and exemptions from registering for public sale		Determine the preparations and ramifications of "going public" and examine the exemptions from registering for public sale (SEC Regulation D sections 506, 505, and 504).
20 min	Foreign business entities in United States real estate		Examine the issues related to foreign involvement in real estate in the Unites States.
20 min	Foreign Investment in Real Property Tax Act (FIRPTA)		Analyze how the IRS captures taxes when dealing with a foreign investor.