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Schuldigerkenning Uit Vrijgevigheid

English translation: Charitable Bequest

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

Dutch term or phrase:	Schuldigerkenning Uit Vrijgevigheid
English translation:	Charitable Bequest
Entered by:	June Derlachter

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20:19 Feb 6, 2012

Dutch to English translations [PRO]
Bus/Financial - Law: Taxation & Customs

Dutch term or phrase: Schuldigerkenning Uit Vrijgevigheid

This is a title of a notarial document regarding gifting/donation (tax purposes).
Thank you for your input!

June Derlachter KudoZ activity Questions: 47 (none open) Answers: 3
Local time: 03:46

Charitable bequest

Explanation:
Definition from Juridischwoordenboek.nl

schuldigerkenning
(notarieel recht) "notariële akte waarin ouders aan hun kinderen schenken zonder dat er contant geld aan te pas komt. De schenking is eerst opeisbaar bij overlijden van de schenkers. De kinderen verkrijgen een niet-opeisbare vordering op hun ouders. Door de ~ over een aantal jaren te spreiden kunnen besparingen van te heffen successierechten worden gerealiseerd. De ouders dienen echter over de schuld aan hun kinderen daadwerkelijk jaarlijks rente te vergoeden. (bron: KNB)"

This is called a bequest in English. The fact that it is a Schuldigerkenning uit vrijgevigheid indicates that it is not a parental bequest to their children but a charitable bequest.

Selected response from:

Textpertise
United Kingdom
Local time: 11:46

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Summary of answers provided

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Charitable bequest

Textpertise

(Notarial Deed of Covenanted) Conditional Gift

Tom Thumb

Answers

19 mins confidence:

peer agreement (net): +3

Charitable bequest

Textpertise
United Kingdom
Local time: 11:46
Native speaker of:

English
PRO pts in category: 16

Grading comment

Thanks!

Notes to answerer

Asker: Thank you very much! This is the term I was searching for. Also, thanks for the reference.

22 hrs confidence:

(Notarial Deed of Covenanted) Conditional Gift

Explanation:
The condition is that it lasts during the Donor's lifetime and takes effect upon his death.

Uit Vrijgevigheid: voluntary in the equitable sense of ex gratia.

Charitable suggests a gift made to a general class of people, rather than the donor's children.

A bequest of money or devise of land is made in a Will only vs. notariële akte.

And compare:

1. a 7-year UK tax-deductible/-efficient Deed of (Gift) Covenant to pay a sum of money at regular intervals: 'over een aantal jaren te spreiden'. If by Deed under Seal, no valuable consideration = payment is needed in return.

2. a discretionary trust: the trustees have a discretion as to which children will be the beneficiaries of the truston the settlor's death.

3. a donatio mortis causa - a gift made in contemplation of impending death.

Example sentence(s):

DEED OF CONDITIONAL GIFT. THIS DEED OF GIFT is made at ... this ... day of ... between Mr. A residing at ... hereinafter referred to as \\\'The Donor\\\' of the One Part vakilno1.com/forms/gift/GIFT_355.doc
It would thus be seen that the donor had executed a conditional gift deed and retained the possession and enjoyment of the property during his life time.

Reference: http://advocatemmmohan.wordpress.com/2011/08/31/revocation-o...

Tom Thumb
Local time: 12:46
Specializes in field
Native speaker of:

English
PRO pts in category: 4

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Schuldigerkenning Uit Vrijgevigheid

English translation: Charitable Bequest

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Schuldigerkenning Uit Vrijgevigheid

English translation: Charitable Bequest

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KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

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