Gift of Real Estate

There are various ways you can donate real estate:

• Outright Gift – This is the simplest form of transferring real estate. If the property has been held for over 12 months, a gift to charity entitles you to an income tax deduction for the full market value.
• Bargain Sale – A bargain sale is part sale and part gift. If you want to make a contribution to charity using real estate but, at the same time, you would like some immediate cash from the transaction, you can sell the property to the charity in a bargain sale.
• Life Estate – You can contribute a personal residence or farm to charity and continue to occupy the property until death. You qualify for a current income tax deduction for the property’s discounted value and continue to enjoy the use of the property.

For any questions you may have on a gift of real estate, please contact us. We will be glad to help you.