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Joint ownership with a charity?
Comments
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Nothing would be done "on the cheap"
When you're asking the public for money, it's often not the details that matter but the big picture.
It's not going to look good for the charity when people hear that donations have been used to buy a house and that a relative of the charity's founder is now living in it.
Most people won't try to find out the details - they just won't donate any longer.0 -
What if the property value were to fall. The Charity would then become liable for the mortgage debt.
I'm not quite sure about that, as if someone had a loan secured on the property, and the loan provider had a second charge on the property, then the loan provider would not be liable for the mortgage debt. The person with the mortgage would be?0
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