alapítványi célra rendelt vagyon





Comparative law notes

Under Hungarian law: 1. The foundation is a legal person 2. established by the founder for the continuous realisation of the permanent objective defined in the founding document. 3. The Founder defines the assets and foundations of the foundation in the founding document. Under Hungarian law, there are certain limitations on the activities of foundations: 4. A foundation may not be formed with the objective of performing economic activities and its only authorised to perform economic activities directly connected to the achievement of the foundation's goals. 5. A foundation may not be a partner with unlimited liability in another legal entity, may not set up another foundation, and may not join another foundation. 6. A foundation may not be established in the interest of its founder, any of its members or officers of the foundation, any member of a foundation body, or the family members of these persons. This provision shall be without prejudice to the contractual remuneration of the foundation's officers.

Definitions of endowment

an endowment mortgage is an endowment policy attached to a mortgage to provide money to pay for a house. A person with an endowment mortgage pays the mortgage interest plus money towards the endowment policy every month, but does not pay off any of the loan until the endowment policy matures.

More than half of endowment mortgage policies are showing shortfalls.

an endowment policy is an arrangement where a sum of money is paid into a fund regularly so that you will receive a large sum of money at a fixed date in the future, or following your death

Few of the policyholders were warned of the risk that the endowment policy might not pay off the loan.

money or property left to provide an income; the action of leaving or giving this money or property

This section applies to any available endowment fund of a charity which is not a company or other body corporate.