Endowments during the donor’s lifetime
An endowment can be gratifying and may also be a sensible thing to do for other reasons. Anyone who promises to make an endowment without enforcing it immediately needs to have a notarial deed drawn up to this effect. In as far as the endowment concerns real estate, this must always be accordingly notarized. Depending on the respective motives, there are numerous options for designing the contract. For example, the contract may provide for the acceptance of property encumbrances, indemnity payments to the donor, the granting of the right of abode, caring commitments, the right of usufruct or reasons for returning the property. The notary will draw up a contract which is aligned to one’s individual needs and will also explain in detail all the implications involved.