passive real estate ownership

(8) the term “passive real estate ownership” means ownership of real estate for the purpose of deriving income from speculation, trade, or rental, except that such term shall not include— (A) the ownership of that portion of real estate being used or intended to be used for the operation of the business of the owner of the real estate (other than the business of passive ownership of real estate); or (B) the ownership of real estate for the purpose of construction or renovation, until the completion of the construction or renovation phase;

Source

12 USC § 4742(8)


Scoping language

For purposes of this subchapter
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