Gifts of Real Estate
Donating appreciated real estate, such as a personal home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to UCI. As with gifts of other appreciated assets, it is important that the real estate itself be transferred to UCI opposed to selling the property first and donating the proceeds
Benefits of gifts of real estate
- No capital gains tax at time of transfer
- Receive a charitable income tax deduction based on the FMV of the gift
- Possible to give partial interest
How to make a gift of real estate
Your real property may be given to UCI by executing or signing a deed transferring ownership. You may deed part or all of your real property to UCI. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
If you have any questions about gifts of real estate, please contact us.
Mortgaged Property - Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Difficult Property Gifts - Certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift. You may also be interested in life income options.