Gift of Real Estate
Here are 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.
Tim Bowman
Financial Planning Officer
Indiana Wesleyan University
4201 S. Washington Street
Marion, Indiana 46953
tim.bowman@indwes.edu
(765) 677-2466
Brian Lewis
Director of Estate Planning and Planned Giving
Indiana Wesleyan University
4201 S. Washington Street
Marion, Indiana 46953
brian.lewis@indwes.edu
(765) 677-2466
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