Occupancy of trust-held actual property with out cost is a risk, relying on the precise 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 hire, whereas one other may require hire funds or restrict occupancy to a sure timeframe. The trustee has a fiduciary obligation to uphold these phrases.
Offering housing with out requiring hire can supply important benefits. It could present stability and safety for beneficiaries, particularly throughout instances of economic hardship or transition. Traditionally, trusts have been utilized to supply for relations in varied methods, together with providing a spot to reside. This apply displays the enduring significance of guaranteeing the well-being of family members.
