A Common Unit in the context of the Delaware Statutory Trust industry, typically refers to a standard share or unit of beneficial interest that an investor owns in a DST. Delaware Statutory Trusts (DSTs) are legal entities that are used for holding title to investment properties. In the real estate industry, these can be a popular choice for 1031 exchanges.

Each investor in the DST owns a proportionate share, or “Common Unit”, of the trust itself and its underlying assets. The rights, responsibilities, and benefits of the investors, including income distribution and voting rights, typically depend on the number of common units they hold in the DST.

However, it’s important to note that the specific definition of a “Common Unit” can vary slightly depending on the specific trust agreement and the nature of the underlying assets. For example, different trusts might have different structures of voting rights or income distribution. Therefore, it’s always important to review the specific details of a trust agreement before investing.