A regional trust with the purpose of "buying" property (physical, rival goods), for credits, from member trustees. This transaction is legally binding, and the property is considered part of the Property Commons, and so the trustee is charged for use of the property according to the property commons' use formula. These use fees are then paid equally to everyone in the property commons. The trustee is considered the "guardian" of the property, as long as they pay the use fee. They can sell the "guardianship" of the property to another trustee in the propertytrust, and likely the property commons. "Guardianship" is essentially the same as ownership, except with the inherent understanding that the property is truly "owned" equally by everyone via the property commons. The responsibilities of guardianship are essentially rights of property ownership.
The propertytrust exists for the purpose of creating and securing the property commons. Its governance is democratic and follows the principles of organization. Members are expected to honor the Code of Conduct. Further organization is considered ad hoc, but must follow the principles of organization. Beyond that, propertytrusts have freedom to organize to best fulfill their purpose, like all other Commons Trusts.
Relation to the property commons
The property commons is a network of propertytrusts, governed democractically. The precise form of governance is agreed upon by the trustees of the networked republic of trusts and commons.
The economic arrangement the property commons creates, along with the other commons, establishes the economic model of Utilicontributism.