Capital Interest Certificates (CIC) are issued based on an exchange (outside funding) going into the trust res - think of it like a stock. Beneficial Interest Certificates (BIC) are issued based on the Board of Trustees decisions and the trust ...
Yes, beneficiaries may exchange property into the trust like an investment; however, it is not suggested that a Trustee hold Beneficial Interest Certificates as this prevents the Trustee from holding Capital Interest Certificates without a fraudulent ...
Yes, with approval by the Board of Trustees the trust may sell any amount of Capital Interest Certificates to any number of persons or entities. Further, the certificates themselves may be restricted from further sale without approval by the Board of ...
Capital Interest Certificates (CIC) are paid to owners when trust vests BEFORE Beneficial Interest Certificates (BIC) are exchanged. An account will probably be required to determine amount of assets, divided between CIC and BIC holders. CIC holders ...
Typically a trust will issue a set of certificates to raise capital for itself. The number of certificates may increase in the future when seeking additional investing; however, the first set is a pre-determined number and used for issuing units ...