Have property rights. Property-based shops refer to developers who divide a large shopping mall into several small shops with independent property rights certificates, and promise investors-buyers-a fixed or guaranteed return every year in the name of property companies or shopping mall management companies. The average developer promises a payback period of 5 years, and the longest one can reach 10 year. The so-called property right shop, that is, the real estate securitization concept of separation of ownership and management right, is the core and the most basic concept of property right shop. Property shop is a popular product form of real estate shop with separation of ownership and management right in the world. It first appeared in developed countries in Europe and America in the 1970s, and only recently began to appear in some developed cities in China. The main performance is that for the purpose of investment, shop owners entrust brand operators with shop ownership to operate in a unified way through developers or third-party companies, and shop owners get regular and fixed investment returns. "Measures for the Administration of Commercial Housing Sales" Article 11 A real estate development enterprise shall not sell commercial housing in the form of returning capital or in disguised form. Real estate development enterprises shall not sell unfinished commercial houses by after-sales charter or disguised after-sales charter.
Legal objectivity:
"Urban Real Estate Management Law" Article 60 The state practices a system of registration and certification of land use rights and house ownership. Article 63 If the people's governments of provinces, autonomous regions and municipalities directly under the Central Government determine that the local people's governments at or above the county level are in charge of real estate management and land management, they may make and issue unified real estate ownership certificates, and record the confirmation and change of house ownership and land use rights within the scope of house occupation in the real estate ownership certificates respectively in accordance with the provisions of Article 61 of this Law.