Ways to Give Real Estate
Most people know that cash and appreciated securities are excellent assets for charitable giving. But not everyone thinks of a less liquid asset, widely owned, that can have great charitable impact and tax advantages as well as real estate. In fact, as one of the most valuable assets people own, real estate can be especially appropriate for charitable giving purposes. A personal residence, vacation home, farm, or commercial and rental property can all be used to make gifts.
Benefits for giving real estate include charitable income tax deductions, full or partial freedom from capital gains tax, and the ability to continue using use the property for life, if you wish.
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Like gifts of long-term appreciated securities, gifts of real estate are attractive because of the double tax benefits an immediate charitable income tax deduction for the market value of the property, and the avoidance of capital-gain tax.
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Personal and family considerations often make giving up use of a personal residence unfeasible during life. In these cases, the donor can make the gift by setting up a trust to provide income, or through what is known as a retained life estate. Simply stated, a life estate involves transferring the title, subject to the donor retaining the right to occupy the property for life, or for a period of years.
Gifts of real property require careful and due diligence on the part of both the donor and the School of Nursing . The donor must be willing to relinquish ownership, and must be able to evidence that the property is free of restrictions that could affect value or marketability. Further, in order to justify income tax deduction, the donor must obtain an appraisal from a qualified real estate professional. The School of Nursing , in order to make good use of the property, must be satisfied that it is readily marketable and, particularly in the case of commercial real estate, that no environmental hazards exist. Once these considerations are satisfied, an outright real estate gift simply involves the legal transferal of the property title to the School of Nursing .
If you are interested in making a gift of real estate or would like more information, please contact us.
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University of Rochester 
School of Nursing
Box SON
Helen Wood Hall
601 Elmwood Avenue
Rochester, NY 14642
(585) 275-2375
