Securities Law Commons^™

State Securities Regulation Of Real Estate Investment Trusts, David G. Epstein

Law Faculty Publications

If one of John Saxe's blind men of Indostan were to prate about a real estate investment trust (REIT) with knowledge only of state securities regulations thereof, his commentary would be no more accurate or revealing than his descriptions of the elephant. For almost a decade, state blue sky regulation has presented the primary legal obstacle to the organization of real estate investment trusts. This article will consider the nature and problems of such regulation.