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A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV; or, in some cases in each EU jurisdiction, FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives.
A synthetic lease is a financing structure [1] by which a company structures the ownership of an asset so that – . for financial accounting purposes (under pre-2003 U.S. financial accounting rules), the asset is owned by a special-purpose entity and leased to the operating company under an operating lease.
Legally, a CMO is a debt security issued by an abstraction—a special purpose entity—and is not a debt owed by the institution creating and operating the entity. The entity is the legal owner of a set of mortgages, called a pool. Investors in a CMO buy bonds issued by the entity, and they receive payments from the income generated by the ...
Southcott Estates Inc sued the Toronto Catholic District School Board for specific enforcement of a contract to sell it 4.78 acres (1.93 ha) of land.Southcott Estates Inc was a subsidiary of Ballantry Homes Inc, a developer, [2] and special purpose entity created just for purchasing and developing the land.
A special purpose entity (SPE) is designed/constructed to acquire a portfolio of underlying assets. Common underlying assets held may include mortgage-backed securities, commercial real estate bonds and corporate loans. The SPE issues bonds to investors in exchange for cash, which are used to purchase the portfolio of underlying assets. Like ...
A real estate mortgage investment conduit (REMIC) is "an entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors" under U.S. Federal income tax law and is "treated like a partnership for Federal income tax purposes with its income passed through to its interest holders".
On January 9, 1943, two days after Nikola Tesla died destitute in a New York City hotel, the FBI called MIT professor and esteemed electrical engineer, John G. Trump, to determine if any of the ...
Special purpose Unimproved land, multifamily homes, and residential income homes are not recognized by most banks or lending institutions as OOCRE. OOCRE is a description utilized to describe the use or utility that the owner will have with the property.