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real estate investment trust

n. nicknamed REIT, a real estate investment organization which finds investors and buys real property and gives each investor either a percentage interest in the property itself or an interest in a loan secured by a mortgage or deed of trust on the property. Usually the loan is used to develop the property and build upon it, and then there is a division of profits upon sale-if there is a profit.


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The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications