TITLE

Jersey: Oputs

AUTHOR(S)
McGreevy, Gill; Ashman, Kevin
PUB. DATE
June 2005
SOURCE
Lawyer;6/13/2005, Vol. 19 Issue 23, p41
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the offshore property unit trusts (Oputs) in Jersey, Channel Islands. The basic structure of an Oput is as follows: Legal ownership of the asset will become vested in a trustee or trustees, or jointly by a trustee and nominee for over-reaching purposes; The trustees will hold the asset on trust for the benefit of the holders of units in the Oput; There is no requirement to appoint a trustee independent of the manager of a private unit trust and therefore running costs can be kept to a minimum; Trust laws relating to the relevant jurisdiction will govern the precise nature of the trust created.
ACCESSION #
17407146

 

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