A Delaware Statutory Trust (DST) is a legal entity created under Delaware law that holds title to real estate, allowing multiple investors to own fractional interests in institutional-quality properties. DSTs are especially popular as replacement properties in 1031 exchanges because they allow investors to defer capital gains taxes while transitioning from active property management to a passive investment. DST investors receive their proportionate share of income, appreciation, and depreciation. The minimum investment is typically $100,000-$250,000. DSTs have a fixed structure, so investors cannot make major decisions about the property, which is both a benefit (passive) and a limitation (no control).