Real property transfer tax on the transfer of a real estate collective investment fund

Acquisition transactions within the meaning of section 1 of the Real Property Transfer Tax Act arising from the transfer of a real estate collective investment fund to the depositary under section 100(1), point 1, are exempt from real property transfer tax where they are notified in a timely and complete manner within the meaning of sections 18 to 20 of the Real Property Transfer Tax Act. Section 17(3) of the Real Property Transfer Tax Act applies correspondingly to acquisition transactions within the meaning of the first sentence. The first sentence applies only where the transfer of the real estate collective investment fund to the depositary under section 100(1), point 1, occurs because the right of the AIF capital management company to manage the real estate collective investment fund has lapsed
1. under section 99(1), on account of the termination of the right of management during a suspension of redemption under section 257, or
2. under section 257(4), and the real estate collective investment fund is wound up and distributed to the investors under section 100(2). The exemption from real property transfer tax lapses retroactively for the real property, or the interests in real estate companies or participations in the assets of real estate companies, that are not sold or transferred by the depositary within three years by way of an acquisition transaction subject to real property transfer tax. The depositary must, within two weeks of the expiry of the period under the fourth sentence, provide evidence to the competent tax office of the whereabouts of all domestic real property received, and of the interests in real estate companies or participations in the assets of real estate companies. Where the duty to provide evidence under the fifth sentence is not fulfilled, the exemption lapses retroactively.