Register Flat
Robert Steckel
(Querist) 15 April 2008
This query is : Resolved
What is the best way to register my flat to a charitable organization and still live out my life in the flat.
Dhrumil
(Expert) 15 April 2008
by Making will
Robert Steckel
(Querist) 16 April 2008
Thank you for the quick reply. I want to register this flat to a charitable organization and live in the flat until death. I don't want my liabilities or personal experiences to come in the way of it's intended use. I don't want to lose this to a future wife or a down turn in my financial situation. I want to protect this property by transferring it into a trust or charitable organization that is safe financially. Or by making a contract to live in the flat and transfer now. Can you give me a better solution???
Manish Singh
(Expert) 17 April 2008
Dear Mr. Stckel,
Be specific what you are willing to do with your property. If you are not willing to give title of your property even after death that means you are not willing to hand it over to a charitable trust. Keep the property in your name and gift it when you get married to your spouse's name.
Robert Steckel
(Querist) 18 April 2008
Yes Manish, Thank you for the reply. I want to register this flat to a charitable organization RIGHT NOW and live in the flat until my death. How can I do this? Trust? Contract? Hidden party?
Manish Singh
(Expert) 19 April 2008
You make a will stating all facts giving away the title to a charitable trust.
Will can only be executed after death of the testator(in this case its you).
You dont need to register a will but for certainty, you can make it registered.
You can make changes to your will by making codicil to your will, so there's nothing to worry about.
Srinivas.B.S.S.T
(Expert) 24 June 2008
only by making a will you can give the flat to charitable trust and live in the same for rest of your life.
