If such REMIC's are part of a tiered structure, they shall be treated Similar to the principles of clause (xi) except that,
Treated as a loan described in a preceding clause under principles
Purposes of determining whether any interest in a REMIC qualifiesĪny regular interest in another REMIC held by such REMIC shall be Such 3-year period, such land becomes residential real property. Within a period of 3 years from the date of acquisition of such land īut this sentence shall not apply for any taxable year unless, within If, under regulations prescribed by the Secretary, there is reasonableĪssurance that the property will become residential real property Loans made to finance the acquisition or development of land shallīe deemed to be loans secured by an interest in residential real property Use (determined as of the time the loan is made). Planned residential use exceeds 80 percent of the property's planned The entire loan is deemed a residential real property loan if the Structure securing a loan is used in part for nonresidential purposes, For purposes of clause (v), if a multifamily Taxable year, in lieu of the close of the taxable year, computed under Of the taxpayer, the percentage specified in this subparagraph shallīe applied on the basis of the average assets outstanding during the
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