Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
investment trust
See investment company under COMPANY.
real-estate investment trust
See REAL-ESTATE INVESTMENT TRUST.
umbrella partnership real-estate investment trust
A REIT that controls and holds most of its properties through an umbrella limited partnership, as a result of which the trust can acquire properties in exchange for the limited-partnership interests in the umbrella while triggering no immediate tax obligations for certain sellers. ( This is a structure that many REITs now use. - Abbr. UPREIT.
umbrella-partnership real-estate investment trust
See REAL-ESTATE INVESTMENT TRUST.
unit-investment trust
1. A trust in which funds are pooled and invested in incomeproducing securities. ( Units of the trust are sold to investors, who maintain an interest in the trust in proportion to their investment. 2. An investment company that gives a shareholder an undivided interest in a fixed pool of securities held by the trustee. ( This type of company can be organized in-several ways (as by trust indenture, contract of custodianship or agency, or similar instrument), but is most commonly organized with a trust indenture. Such a company does not have a board of directors and issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities. 15 USCA ยง 80a-4. See investment company under COMPANY.