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Date: | Fri, 8 Dec 1995 09:35:26 -0700 |
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NEVER accept conditional donations. Unless the value to the museum so
outweighs the potential consequences that you can't resist. With the
deal you mention the estate can buy a house (create debt) and ask you for
money to fufill it (the debt).
On Thu, 7 Dec 1995, CarolM5397 wrote:
> Our museum has been named as beneficiary in a will and was to receive an
> original piece of art stated to value a relatively large sum. Accompanying
> legal documented required (requested) a notarized signature etc. etc. Yet
> in the text of the documents the museum would have agreed , that in case
> of debt or obligation of the estate of the deceased that might come to
> light sometime in the next (7?) years, we agree to return not the art but
> the stated value of the art in money. We haven't signed. Is this common?
> Sounds like bad news to me. The executors of the estate have indicated
> some lack of experience in this regard of leaving art to museums. Anyone
> out there have any experience with these circumstances?
>
> Carol Morgan
> Director: Demuth Foundation
> Lancaster, PA
>
> E-mail: Carol [log in to unmask]
>
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