Gifts of Real Estate
Benefits
- Immediate charitable deduction for fair market value; potentially avoid capital gains taxes.
- Retain use of the property while giving income for life and leaving remaining assets to Hospital for Special Care Foundation.
- Can reduce estate and gift taxes while supporting your heirs.
How It Works
- Deed your home, farm, vacation home, undeveloped land, or commercial building to Hospital for Special Care Foundation.
- Hospital for Special Care Foundation sells the property and retains proceeds for its mission.
Tips
- Gifts can include full or partial interests.
- Due diligence is conducted to evaluate mortgages, liens, hazards, and marketability.
- Mortgage-free properties offer greater tax benefits.
- Appraisal by a qualified professional is required.
- Contact Hospital for Special Care Foundation early, as real estate gifts take time to complete.