OP-UNIT-TO-REIT-SHARE CONVERSION CHECKLIST
Original educational organizer. Not tax, legal or investment advice.

REQUEST OR ELECTION
Agreement and section: ______
Eligible unit class and count: ______
Notice date and delivery receipt: ______
Withdrawal deadline: ______

SETTLEMENT DECISION
Who chooses cash or shares: ______
Written response date: ______
Settlement form: cash / shares / combination / pending / rejected
Conditions still open: ______

EXCHANGE RECONCILIATION
OP units surrendered: ______
Exchange or conversion ratio: ______
Adjustment source: ______
REIT share class and count: ______
Unit cancellation date: ______
Share issue date: ______
Fractional-share treatment: ______

REIT SHARE RIGHTS
Listed or non-listed: ______
Registration or legend: ______
Ownership and transfer limits: ______
Current repurchase plan and date: ______
Fees, caps, queues or suspensions: ______

TAX RECORDS
Prior K-1s: ______
Outside-basis workpaper: ______
Liability schedule: ______
Settlement tax statement: ______
CPA conclusion and date: ______

LATER SHARE SALE OR TENDER
Separate event date: ______
Shares disposed: ______
Gross proceeds: ______
Fees or withholding: ______
Basis allocated by CPA: ______
Reporting forms: ______

Do not equate share value, available cash, tax basis or guaranteed proceeds.