The lesser specifically provides funds to purchases, acquire, and lease product first (machinery equipment, stock, etc…), will then lease that product to lessees by way of leasing, the lessee pays the scheduled payment, at the term of the lease, lessee can obtain the ownership rights through preferential buy out price. By collecting rent, the lesser does not pay the original purchase cost (including principle and interest); To put it briefly, the lessee replaces the equipment.

1. The ownership of subject matter on contract due date belongs to
   Capital Lease ~ Customer; Lease for money ~Leasing corporation

2. The subject matter's amortization, depreciation
   Capital Lease ~ Customer; Lease for money ~Leasing corporation

3. The customer concede that it is classified as expenditure
   Capital Lease ~ Interest; Lease for money ~Rent (Expenses )

Refers to the real estate owner giving the name of the real estate trust to trustees, according to the deed of trust which are signed by both sides, passes the real estate trust to the developers, that deals with the development process. The developers will manage the construction process; hiring, managing and selling the real estate trusts, or return to clients after finishing constructions. Making use of a trust system, the real estate holder can improve the real estate’s use benefit, and the trustee can collect the service charge for management and administration according to the agreement on the deed of trust. Making both sides indebted to each other for profit; And the real estate trust main function is the effectively isolating risk.

The securitization of the so-called real estate refers to the proprietary land or building that will be held, in a way that changes it into marketable securities, and turn it into securities issue with mobility for investors. It is a real right relation that will hold the ownership of the real estate directly, change into holding and citing the marketable securities benefit of the economy, combining the characteristic of the real estate market and capital market, which strengthen its realization and circulation. This can solve the problem of making real estate easily available.

In a developing real estate projects, the landlord, the developer and the land enters in to a special family of trust to create a property trust fund and commissions an organization, that agrees to sell the fund of the construction project. Any relevant expenditure of the construction project is also paid by the special family of trust, commissioned in the organization and distributed the surplus property within the special family of trust, to give the landlord and developer after the construction project is completed according to the trust contract. These rights to distribute the surplus property to the landlord and developer are the benefited right. Benefited right is not a certificate, bond, or marketable securities, but as a kind of right only.

Benefited rights must be cut apart or transferred to the third person by way of paying the return on investment. It is handled by converting into money in accordance with the fixed interest rate and is issued or agreed by each one to repay capital with interest. Also need to handle the registration mechanism for commissioning while transferring.

　

Benefited Right Standards:

1. Can't disclose the fund-raising behavior to specific people or majority; have to go about raising funds privately.

2. Can't create and deliver any written file that the beneficiary to proved its benefited right. This is to prevent others from thinking the benefited securities of the real estate ordered was by mistake as stated in real estate securitization regulations.

3. The assignee must be a banking, ticket certificate industry, trust business, insurance, securities business or other by competent authority 13th item 1 First legal person or organization that check and approve in accordance with real estate securitization regulations.

4. The assignee must be in accordance with the natural person, legal person of competent authority or fund of the 13th item 1 second section of conditions made in accordance with real estate securitization regulations, its number of people does not exceed more than 35 .

5. Beneficiary must allow time to divide and issue their benefited right. But it only be divided with every beneficiary holding their benefited rights value be not lower than 1 million New Taiwan Dollar and the total amount of beneficiaries does not exceed more than 35 people.