Question
From: (redacted)
Sent: Wednesday, May 27, 20092:00 PM
To: Verne, B. Michael
Subject: Undivided Interests in an Asset
Mike,
In an acquisition of undivided interests in an asset, is aggregation required with interests previously owned by the buyer in the same asset but acquired from a different seller?
In the same scenario, if the buyer already owns an undivided interest of more than 50% in the same asset, is the transaction exempt as intra-person?