Charities/not-for-profits to be forced to return bequests

SAN FRANCISCO: A charity/not-for-profit has been asked to return a large bequest. The charity thought it could on-sell a site gifted to it 25 years ago for “exclusive use as a skilled nursing home”.

The site buyer has applied to sub-divide for general housing. The use will breach the terms of the original gifting deed. The donor trustees now want the original gift and the profit derived from the sale repatriated…

This trend is covered in detail in the Seniors Housing & Healthcare Trends.

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