Real estate developments necessarily require large amounts of capital, and are usually dependent on financing from sources other than the venture group assembled to construct and operate a proposed project. Theoretically, such ventures may be undertaken in many forms, corporate and otherwise, and the available financing vehicles may include debt instruments, equity shares and innumerable combinations thereof. In reality, however, business and legal considerations often dictate organization and operation of such ventures within more narrowly defined limits.
J. D. Felton III,
A Larson-Zuckman Checklist for Partnership Tax Classification of ULPA Real Estate Shelters,
U. Rich. L. Rev.
Available at: http://scholarship.richmond.edu/lawreview/vol11/iss4/3