Lasting Support
Real Estate Donations
The Yücel Cultural Foundation’s ability to reach more young people depends on the income generated by the assets and rights allocated at its establishment, as well as subsequent donations.
Movable or immovable property and certain rights may be donated to the Foundation during the donor’s lifetime or through a will, depending on the donor’s preference.
How Can a Real Estate Donation Be Made?
The scope and method of the donation depend on the donor’s wishes, the nature of the property or right, and the legal procedures involved. There are generally two main methods.
1
Donation During the Donor’s Lifetime
A donor may donate movable or immovable property, or a right they own, to the Foundation with or without conditions.
- The donor may transfer only bare ownership while retaining usufruct or the right of residence.
- In this case, ownership passes to the Foundation while the right to use the property and benefit from its income may remain with the donor for the agreed period.
- The legal consequences and reversibility of the transaction are assessed according to the executed documents and applicable law.
2
Donation Through a Will
A donor may leave a specific asset, all of their estate, or a defined portion of it to the Foundation through a will prepared during their lifetime.
- The donor’s specific wishes and conditions may be included in the will.
- It is important for the will to be prepared in a legally valid form so that the donor’s wishes can be carried out after their death.
- Reserved shares of heirs and other legal limitations must also be taken into account.
The Legal Process May Vary by Person and Estate.
The type, scope, usage rights and any special conditions of the donation are evaluated together with the donor. The Yücel Cultural Foundation provides guidance on the process through its legal advisers.
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