Unit trusts are fixed, express trusts. Unlike discretionary trusts, unit trusts allocate the shares in the property for beneficiaries in the trust agreement, rather than discretion by the trustee. Each beneficiary is allocated a unit in the trust property beforehand.
Unit Trust Deed Template
A Unit Trust Deed is between Unit Holders in a Unit Trust. Where a Unit Trust is used, it is normally accompanied by a Unit Holder’s Agreement.
Your Unit Trust Deed Agreements Include:-
- CONTENTS
- 1 Definitions & Interpretation
- 2 Trust
- 3 Beneficial interest of unit holders
- 4 Issue and classification of units
- 5 Register of unit holders
- 6 Certificates
- 7 Redemption of units
- 8 Transfer of units
- 9 Transmission of units
- 10 Income and capital
- 11 Categories of income and capital
- 12 Distribution to unit holders
- 13 Statements and accounts
- 14 Appointment and removal of trustee
- 15 Variation of trust
- 16 Modification of class rights
- 17 Provisions relating to trustee
- 18 Meetings of unit holders
- 19 Limitation on liability of unit holders
- 20 Investment powers
- 21 General powers
- 22 Termination of trust
- 23 Notices and service
- 24 General Provisions
14 pages long.
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