Options to Give Gift of Real Estate

Giving Real Estate or Personal Property

A gift of your real property (such as your home, vacation property, vacant land, farmland or ranch or commercial property) can make a great gift. If you own appreciated real property, you can avoid paying capital gains tax by making a gift to us.

 

Real Estate Gifts Make Sense

A gift of real property makes a difference for our organization. Almost any type of real estate can be used to support our mission, and there are a number of ways to effectively use the property to benefit you and our organization. Whether your property is your home, an investment or commercial property or farmland, consider using it to support a cause important to you.

The True Value of the Land

When you transfer your home, buildings or land to us, we can begin using your property today or sell it and make use of the proceeds to further our cause. You will benefit from income and capital gains tax savings and receive the satisfaction of knowing your property is going to serve a noble purpose.

Benefits:

  1. No more real estate taxes.
  2. No more cost of ownership (maintenance, insurance, upkeep) or hassle of selling.
  3. Unproductive land can be put to a higher use.
  4. Property can be used for a purpose you believe in—immediately.
  5. Property can be transferred to a trust or gift annuity for added benefits.
 

Ways to Give Real Estate

Here are some of the ways to make a gift of real property including land or other real estate:

Outright Gift: Transferring property is easier than selling, and you receive an income tax deduction (and avoid any possible capital gains taxes).
Life Estate: You can make a tax deductible gift of your home today and remain living there for the rest of your life.
Charitable Gift Annuity: In exchange for your gift, we promise to pay you fixed payments for life at a rate based on your age—no matter how long you live. The rates are attractive, and you receive an income tax deduction and possible tax-free payments.

Charitable Remainder Trust: Highly appreciated property can be transferred with no capital gains taxes. The trust owns the property and generates income for you for life or up to 20 years.
What about timber or farmland that won’t produve income for years?: A FLIP unitrust holds the property and starts delivering payments to you when the property produces income. You can design the trust to make-up “lost” earnings in future years.

Can you make a gift of mortgaged property?

Please contact us (800-332-8238) if the property you wish to give has existing debt or a mortgage. Check with us on the capital gains tax implications of your gift. You also may be interested in life income options

Ask David


Contact David Atkins for answers to your charitable giving questions.

 

datkins@mumf.org

 

800-332-8238