An 'Air Loan' is a sophisticated mortgage fraud scheme wherein a mortgage broker fabricates all the details of a loan on non-existent property and borrower, presenting false documentation to make it appear legitimate.
A Captive Real Estate Investment Trust (Captive REIT) is a business and tax strategy employed by large retailers and banks with substantial real estate holdings or property loans. The REIT is sold by the company to investors to hold the real estate assets that were previously on the company's books. The company then pays rent to the REIT, which it deducts as a business expense.
