Nominee

An unincorporated charity cannot own property. Someone has to hold it, and that someone is holding as nominee or as a holding trustee.

The nominee is the legal owner; the charity is the beneficial owner. The arrangement should be documented, because the alternative is a dispute about whose property it is when a nominee dies, resigns or falls out with the board.

Trustees delegating investment management should also check the nominee arrangements and their power to make them. See setting your investment policy.