Cohousing-L Mailing List: Property/estate bequests within cohousing communities

[Jeanne Juneau (jjuneau98]

A couple of our members are looking into options for creating a charitable
funding vehicle to receive their real estate (condo) and cash assets upon
dying. The idea is to support our value for diversity and inclusion by
providing financial support for either rental or purchase of condos within
our cohousing community.

In our state (perhaps this is true for all states) an HOA cannot hold
assets. So, we're investigating ideas like creating a non-profit
foundation, or charitable trust, or endowment,  or.....? Ideally, we can
find a structure that will not create a huge administrative burden, or be
expensive to manage.

I'm wondering if any other communities have experience in this realm? If
you have a program of this nature already in place, I'd love to follow up
with you for details.

Thanks, all.  JJ