IRS Clarifies REMIC Regulations and Provides Safe Harbor for Certain Property Release Transactions

September 08, 2010
The IRS recently issued Revenue Procedure 2010-30, which provides a safe harbor under the REMIC Rules for certain real property releases that constitute either a “Grandfathered Transaction” or a “Qualified Pay-Down Transaction.” This update examines which releases might fall within the Revenue Procedure’s safe harbor and how the Revenue Procedure addresses certain issues raised by last September’s revised REMIC Rules.