HOT ISSUES
Question #14: Why is the percentage listed in the “beneficiary letter” I received different from the ownership percentage of my investment?
The percentage in the “beneficiary letter” represents your share of all the assets transferred to the Liquidating Trust and is not related to the percentage ownership you may have had in a TIC property or sharing unit interest.  Your percentage ownership interest in your investment relates only to the ratio of your interest to the interest of other investors in the same investments.  Your percentage as a beneficiary of the Liquidating Trust relates to the ratio of your beneficial interest to the interests of all other beneficiaries of the Liquidating Trust—which for the DBSI Liquidating Trust includes all tenant-in-common and similar investors, and which for the DBSI Real Estate Liquidating Trust includes all investors who purchase notes, bonds, sharing units and similar investments.