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Date
Rule
15USC18a(c)(2) 7A(c)(2)
Staff
Michael Verne
Response/Comments
Advised that a Maryland Business Trust is a non-corporate entity. The acquisition of its assets is exempt under 7A(c)(2)

Question

From: (redacted)
Sent: Tuesday, January 11, 2005 4:54 PM
To: Verne, B. Michael
Subject: HSR question

Michael: Would the acquisition of a REIT (by a buyer that isn't a REIT) beexempt if the target REIT's only business is investment in "first-lien,fixed-rate mortgages secured by single-family residential property"? Is aREIT (it happens in this case to be a Marylandtrust) viewed as a corporation and thus subject to rule 802.4? Or is it anon-corporate entity whose acquisition would be viewed for HSR purposes as the acquisition of all of its assets?

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Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

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