### Question
How is the "ownership interest" defined?


### Answer
The term **ownership interest** is defined in *26 U.S.C. § 860L* as follows -

> the interest issued by a FASIT after the startup day which is designated as an ownership interest and which is not a regular interest

#### Citation:
  - *26 U.S.C. § 860L*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter M-Regulated Investment Companies and Real Estate Investment Trusts > PART V-FINANCIAL ASSET SECURITIZATION INVESTMENT TRUSTS**

