Occupancy of trust-held actual property with out cost is a chance, relying on the particular phrases outlined within the belief doc. For instance, a belief may stipulate {that a} designated particular person can reside in a specified property with out paying lease, whereas one other may require lease funds or restrict occupancy to a sure timeframe. The trustee has a fiduciary obligation to uphold these phrases.
Offering housing with out requiring lease can supply important benefits. It could actually present stability and safety for beneficiaries, particularly throughout occasions of monetary hardship or transition. Traditionally, trusts have been utilized to offer for relations in varied methods, together with providing a spot to reside. This follow displays the enduring significance of making certain the well-being of family members.
