Contract Giving Serves Its Purpose
We quote from a letter, written by a physician in a Middle Western city:
"Y o u r s o f t h e 1 9 th a t h a n d . Our i d e a i n d e e d in g y o u t h i s p r o p e r t y i s , i n p a r t , t o be r e l i e v e d f r om an y f u r t h e r p a r t i n i t s m anagem ent, and fr om y o u r ad i n The K i n g 's B u s in e s s we i n f e r r e d t h a t y o u w ou ld h a n d le su ch d e a l s i n t h a t m anner. I f y o u ca n do t h i s , we hav e d e c i d e d t o d e e d t h e p r o p e r t y t o y o u . That i s , i f y o u manage t h e p r o p e r t y , c o l l e c t t h e r e n t , and r em i t t o u s t h e n e t p r o c e e d s . S h ou ld y o u c a r e t o s e l l t h e p l a c e b e f o r e o u r d e a t h , we w ou ld be w i l l i n g t o h av e y o u do s o , and y o u c o u l d t h e n p a y u s a s y o u do y o u r am V VC*»-w«s. 9 i f t h a t w ere a g r e e a b l e t o y o u . . . . The p r o p e r t y i s an e i g h t room h o u s e . "
If you will analyze this letter, you will see at once just how useful our “ CONTRACT GIVING PLAN” can be to the donor, weary o f the cares o f property management. In the first few sentences quoted the whole gist o f the matter is made clear. From the Institute’s side, no special burden is added by assuming the management,of this property. Los Angeles is a national real estate center, so that the management and sale of this property, while difficult to the doctor whose letter is quoted, is easy for us. Please note the benevolent intention o f the donor: he has every desire of benefiting the Institute by giving the property to the Institute after his decease. While preferring the security of his owm selection, he is quite willing to exchange it for other income, if it will benefit the Institute. Naturally we can undertake this trust free o f charge, turning over all net iqpome to the donor, and thus accomplish every purpose of our friend. We believe such an arrangement is the most satisfactory type of Christian investment, for the following reasons: A No loss is occasioned by the sale and repurchase o f securities in the present inflated security market; B No charge is made to the investor for our service rendered; and C The investment is always under his or her direction, but without any management responsibility.
If interested, address in confidence:
TH E B IB LE IN S T ITU T E O F L O S A N G E L E S INCORPOEATED BUSINESS DEPARTMENT 558 SOUTH HOPE STREET LOS ANGELES, CALIFORNIA
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