qualifying employer real property
- qualifying employer real property
-
qualifying employer real property (QERP)
USA
Real property that is owned by an employee benefit plan and leased back to the employer of employees covered by the plan, or to the employer's affiliate. To be qualifying, the parcels of real property must meet the following conditions:
• A substantial number of the properties must be disbursed geographically.
• Each of the properties must be suitable (or adaptable without excessive costs) for more than one use.
All of the parcels of real property can be leased to one lessee. A plan's acquisition and holding of QERP is not a prohibited transaction if these conditions are met.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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