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Amount of a REIT Fund Used for Real Estate or Real Estate-Related Rights Transactions Requiring Prior Issuance of an Appraisal Report by a Trustee
Promulgated per 3 September 2003 Order No. Tai-Tsai-Rong-(IV)-0924000785 of the Ministry of Finance
1. "...real estate or real estate-related rights transactions reaching or exceeding a certain amount prescribed by the competent authority" in Article 22, paragraph 1, of the Real Estate Securitization Act means that when the total amount of a real estate investment trust (REIT) fund utilized by a trustee in a single real estate or real estate-related rights transaction reaches or exceeds NT$100 million, the trustee, prior to the transaction, shall engage a professional appraiser to issue an appraisal report pursuant to the Real Estate Appraiser Act.
2. "…total amount of [a REIT fund utilized by a trustee in] a single real estate or real estate-related rights transaction..." in the preceding paragraph, and "amount of a single transaction" in Article 22, paragraph 3, subparagraph 1, of the Real Estate Securitization Act mean the aggregate transaction amount for all investments covered by a single transaction contract.
3. The amount of other real estate transactions that occur within 6 months of the transaction date and involve real estate on the same site as the transaction objects or on adjacent land shall be included in the calculations under the preceding paragraph. |