| The universal name of reits is the Real estate investment trusts,it is from America.It is organizated by company,trust or association ,which gathers much money from investors ,which purchases and holds Income class housing (for example ,apartment,shopping centers,office storage center an so on.)or which is the invesment institution owing tax incentives and finances for real estate.The reits is a kind of trust fund in the way of issuing revence receipts of which collects money of special investors ,managed by specialized agencies proportionally in order to invest the real estate .Since the second half of the 2008 ,In the double influences from market downturn and a contraction of the policy,capital intensive real estate enterprises are facing serious pressure on the financing.Simultaneously the strict bank mortgage policy contractes out the real estate financing channels .Therefore, in the current situation, china's development of real estate investment trusts are very important.In the whole,firstly, riching financial instruments and improving china's capital market needs. Secondly, improving the usage of social funds ;Thirdly, improving china's real estate and financial framework.From the microeconomic level, Firstly, expanded financing channels of real estate enterprises ;in the current, it is urgent to introduce and develop our real estate real estate investment trusts. To introduce such financial instruments well, the priority task of us is to improve domestic laws and regulations of real estate investment trust.In the article,the writer chooses the laws and regulations of real estate investment trust for study , analyzes the domestic laws and regulations of real estate investment trust, contrasts them with the united states and finds Shortcomings, At last.,the writer gives the suggestions about improves the domestic laws and regulations of real estate investment . This paper is divided into four parts :The first part is about the basic theory of the survey of legal system of the real estate investment trusts ( reits ) . This section mainly discusses the meaning of real estate investment trusts and characteristics, the kind of the real estate investment trusts,and its discrimination with relevant concepts and the situation of real estate investment trusts. This writer specifics the study is the relevant laws and regulations of the real estate investment trusts in this part. The second part is about the the comparative analysis of the relevant laws and regulations of the real estate investment trusts. In this part, it mainly discusses the legal framework of reits .and the comparative analysis about the trust law ,the securities sector, and the relevant legal field . Finally,the write contrasts the relevant laws relating to the risk of the provisions of rule.The third part is to explain the obstacles about the real estate investment trusts reits in our development of the legal, This part and the second part is crying out, and is directed at the second part of the various aspects respectively. From the trust law ,the tax system, and the mbs and the special regulations of reits and industrial funds and property law ,risk control and monitoring of respect to analyse the legal obstacles in our development .Part iv is relating to improve our legislative proposals about reits .,the organization of this part is still based on two or three parts of the article. Respectively from the trust law ,the tax system, and the mbs and the special regulations of reits and industrial funds and property law ,the respect of risk control and monitoring,it describes how to improve the legislation of our real estate investment trusts reits .The passage uses the following methods of research mainly: Firstly, the empirical analysis. The writer issues the concept and feturetate of reits in order to cut them off from the related concepts logically. Secondly, the value analysis. the author analyses the basic value of the legislation of reits. Thirdly, using the method of comparison.especially the second part, both in horizontal and vertical view ,the writer offers my own views on the basis.In this article, the first is the comparison about the legislation of reits between China and America ,and then the writer analyzes the obstacles in the domestic legislation ,at last ,the writer gives the proposals to improve the legislation about reits ,in the hope to make effort to improve the domestic legislation of reits. |
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