The company-built Methodist church became todayâs Margaret Church of Christ, a neat little white chapel on County Road 12 near the town park. A pianist at this old church, Lou Betts, later married U.S. Congressman Tom Bevill.
REITs, or real estate investment trusts, are companies that own or finance income-producing real estate in a range of property sectors. These companies have to meet a number of requirements to qualify as REITs.
For a company to qualify as a REIT, 75% of its assets must be in the form of real estate. These companies allow investors to invest in real estate without purchasing property. REITs are not required to pay income taxes, but must distribute at least 90% of their profits to shareholders in the form of dividends.