There are four options for Minibond ownership registration:
- single owner
- joint tenants with rights of survivorship
- tenants in common
- trustee holder
A single owner is the only owner of the Minibond.
Joint tenants with rights of survivorship provides that each party owns an undivided interest in the entire Minibond and upon the death of one joint tenant, title passes to the surviving owner(s).
Tenants in common provides that each party owns an undivided interest in the Minibond, but there is no right of survivorship upon the death of a tenant. That tenant’s interest in the property must pass to its rightful new owner(s) as determined by the will of the deceased tenant.
A trustee manages a trust: an entity created to hold assets, including Minibonds, for the benefit of certain persons. Most trusts are founded by the persons who execute a written declaration of trust which establishes the trust and defines the terms and conditions upon which it will be conducted.