[RPPTL LandTen] Sale of Ground Lessor's Position, but not the fee - structure and tax implications
George Pincus
GPincus at stearnsweaver.com
Tue Jun 14 07:17:20 PDT 2011
Has anyone done this deal:
* Long term ground lease for a commercial property between Ground Lessor and Ground Lessee
* A purchaser comes along and want to buy the Ground Lessor's position under the Ground Lease, but not the fee.
* Essentially, the purchaser wants to buy the cash flow under the Ground Lease for the term of the Ground Lease for a present value (let the business people figure that calculation out) and, at the end of the term, the original Ground Lessor still has the reversionary interest and ends up owning the property and the leasehold improvements (large commercial building), free and clear of the ground lease and any subleases that the Ground Lessee entered into during the term of the Ground Lease.
I would be interested in talking with you about structure and tax implications, if any (for some reason I think there are as this looks a lot like some tax shelter structures I saw the aftermath of in the 80's and 90's).
If you have any relevant experience, please shoot me an e-mail or give me a call to discuss.
Thanks very much.
George A. Pincus, Esq.
Stearns Weaver Miller Weissler
Alhadeff & Sitterson, P.A.
New River Center, Suite 2100
200 East Las Olas Boulevard
Ft. Lauderdale, FL 33301
Telephone: 954-766-9705
Facsimile: 954-766-9719
E-mail: gpincus at stearnsweaver.com<mailto:gpincus at swmwas.com>
www.stearnsweaver.com<http://www.stearnsweaver.com/>
________________________________
CONFIDENTIALITY NOTICE: The information contained in this E-mail message is attorney privileged and confidential information intended only for the use of the individual(s) named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this communication is strictly prohibited. If you have received this communication in error, please contact the sender by reply E-mail and destroy all copies of the original message. Thank you.
________________________________
CIRCULAR 230 DISCLOSURE: To ensure compliance with recently-enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties that may be imposed by the federal government or for promoting, marketing or recommending to another party any tax-related matters addressed herein.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.fsr.com/mailman/private/landten/attachments/20110614/070db3c6/attachment.html
More information about the landten
mailing list