Donate Real Estate

Community Housing Land Trust of Santa Cruz County, Inc. ( CHLTSCC ) accepts gifts of real estate. There are Various was to Donate Real Gifts of Real Estate. Donating real estate, whether it is a personal residence, vacation home, commercial property, or even vacant land, can be a creative way to make a significant gift to CHLTSCC and at the same time receive important tax benefits and even income. The benefits can include a charitable income tax deduction, avoidance of capital gain tax at the time the gift is made, and removal of the property from your estate, potentially reducing estate taxes and probate costs. A gift of your real property relieves you of the burden of managing or selling the property.
Real property gifts can be made in several ways:

  • Outright gift:

Your benefits from an outright gift of real property would include an income tax deduction for the property’s full fair market value, removal of the property from your estate, and the reward of seeing your gift go to work for public broadcasting.

  • Charitable remainder trust:

If you still need the income generated by the property, a charitable remainder trust may be a good solution. The property is irrevocably transferred into a trust, which pays income to you for life or a term of years. After that, the remaining principal goes to support the many CHLTSCC programs you have enjoyed over the years. Additional benefits include a substantial income tax deduction in the year the trust is established and no capital gain tax at the time of the gift.

  • Partial interest gift:

If you are unable to donate the entire property, you may deed to us an undivided partial interest. Alternatively, you may fund a charitable remainder trust with such a partial interest. Typically in both instances, the entire property is sold, with the proceeds being shared proportionally between you and CHLTSCC (or the trust). Your charitable deduction for the gift portion can help offset the capital gain tax on the property interest you keep.
Retained life estate:
Give CHLTSCC your personal residence, but retain the right to live in it for your lifetime. A retained life estate will give you an income tax deduction in the year you make the gift and the satisfaction of making an important gift during your lifetime.

  • Bequest:

You can make a testamentary gift of real estate through your will or trust.

  • Note:

These are not the only methods of gifting real estate. Please consider this information as a starting point. With all charitable gifts, it is important to consult with your attorney or financial advisor to ensure that you comply with state laws, receive maximum tax benefits, and that your wishes are accurately reflected in necessary legal documents.

Check Our Status:

Our latest IRS 501(c)(3) Non-Profit Determination was made 3/10/2011. IRS Publication 78 Web Listing you can check on our Public Charity Status 170(b)(1)(A)(vi) by calling the IRS at (877) 829-5500 to verify: EIN 77-0563069

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Copyright 2011 – Community Housing Land Trust of Santa Cruz County, Inc.
All rights reserved.

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