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THE UNITISATION OF A HYPOTHETICAL OFFICE INVESTMENT

THE UNITISATION OF A HYPOTHETICAL OFFICE INVESTMENT Property Income Certificates PINCS were conceived as a means of unitising properties. They will enable investors to acquire a direct investment in part of a property as if they owned an interest in the property itself. In this way they can enjoy the income and capital growth from the property proportionate to their holding. The tax treatment applied to them will be similar to that appropriate to a holder of property. PINCS once floated will be saleable without restriction. Minority investors will have protections and a voice in the management of the relevant company. This paper discusses the legal framework, which, whilst novel, will be relatively simple to establish. The floating of a property on the PINCS market will follow similar principles to those adopted in the listing of a property company. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Valuation Emerald Publishing

THE UNITISATION OF A HYPOTHETICAL OFFICE INVESTMENT

Journal of Valuation , Volume 5 (4): 8 – Apr 1, 1987

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0263-7480
DOI
10.1108/eb008017
Publisher site
See Article on Publisher Site

Abstract

Property Income Certificates PINCS were conceived as a means of unitising properties. They will enable investors to acquire a direct investment in part of a property as if they owned an interest in the property itself. In this way they can enjoy the income and capital growth from the property proportionate to their holding. The tax treatment applied to them will be similar to that appropriate to a holder of property. PINCS once floated will be saleable without restriction. Minority investors will have protections and a voice in the management of the relevant company. This paper discusses the legal framework, which, whilst novel, will be relatively simple to establish. The floating of a property on the PINCS market will follow similar principles to those adopted in the listing of a property company.

Journal

Journal of ValuationEmerald Publishing

Published: Apr 1, 1987

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