Occupancy of trust-held actual property with out fee is a risk, 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 responsibility to uphold these phrases.
Offering housing with out requiring lease can supply vital benefits. It may present stability and safety for beneficiaries, particularly throughout occasions of monetary hardship or transition. Traditionally, trusts have been utilized to supply for relations in varied methods, together with providing a spot to stay. This apply displays the enduring significance of guaranteeing the well-being of family members.
