Beneficial Interests

Owners of units are registered on the title with the government of Ontario as the beneficial owner of an undivided interest in the whole property, and receive a certificate of interest. Because this is a syndication, however, beneficial owners will not be able to point to a specific piece of the property that is owned. Through beneficial ownership, there is also a privacy benefit as the general public are not permitted access to your investment details.
In addition, in the product of LEIT®, the trust structure is used for practical reasons related to, among others, management of the property with multiple holders of beneficial interests in the trust, which trustee is in turn beneficial owner of the land (for example, only 51 percent of the property owners need to agree on the sale).
Risks related to the operator of the land property and the trustees.   Any deterioration in the performance or credit of the operator [or nominee] of the land or the relevant trustee may detrimentally affect the investment.