Properties Of The JPUT

High-net-worth individuals (HNWIs) may have the ownership of their personal realty held in a private trust structure so that either their trustees directly own the realty or, as has historically been more common, the realty is owned by an underlying company owned by the trustees. HNWIs also look to invest in commercial real estate ventures and, again, a trust structure is frequently used for that purpose. In Jersey, these structures are known as Jersey property unit trusts (JPUTs).

STRUCTURE

Like any other trust, a JPUT will often come into existence on the execution of a trust instrument made by a trustee and on the transfer to the trustee of the property. However, those persons transferring property (i.e. the trust fund) to the trustee will be known as unitholders rather than benefi ciaries. In addition, the unitholders' names will be entered into a register of unitholders and they will be issued with units in the JPUT.