Shortcuts
Real Estate
This gift is for you if...
- You hold residential, commercial or undeveloped real estate that has risen in value and that you no longer wish to maintain.
- We could use the property for our institutional purposes, hold as a source of rental income, or sell it.
- You own the property outright or are willing to satisfy any mortgages before donating it to us.
- The property is marketable and environmentally secure.
Children's is happy to consider gifts of residential, commercial and undeveloped real estate.
As with donations of other types of appreciated property, gifts of real estate secure a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains liability for the transfer to us.
You can deliver real estate to Children's in several ways:
- Through an outright donation.
- Through the donation of a fractional interest in the property.
- As the basis for a gift plan that will pay you income, like a unitrust.
- By giving us your home and reserving the right to continue living there for your lifetime (a retained life estate).
- Through a part sale/part gift arrangement with us (a charitable bargain sale).
When you are considering a gift of real estate, keep two considerations in mind:
- We will gratefully review your gift offer and evaluate the condition and marketability of the proposed real estate before accepting your gift.
- The IRS requires donors of real estate to secure an independent appraisal to establish the fair market value of the property. We can assist you in following the IRS procedures for this appraisal.
For More Information
Complete the personal illustration form or contact us so that we can assist you through every step of the process.
This is not professional tax or legal advice. Donors must consult their tax and legal advisors regarding their specific situation.