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Date
Rule
802.2
Staff
Michael Verne
Response/Comments
Yes But see PNPM # 205 (Third Edition) for exceptions.

Question

From:(redacted)

Sent:Tuesday, September 19, 2006 12:37 PM

To:Verne, B. Michael

Subject:Assisted Living Facilities

Mike,

Areassisted living facilities exempt assets, under the real estate exemption?

Aclient is planning to sell 20 or so assisted living facilities for over $100million. I think of assisted living facilities as similar to apartmentbuildings, but I would like to know whether the PNO has taken a position. Ididn't see anything relevant in the Practice Manual.

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