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Charitable Bargain Sale: FAQs

What if the property has a mortgage or other lien on it?Layer Closed

The mortgage or lien can and should be paid off prior to the bargain sale or with the sale proceeds received by the previous owner. This produces the best tax benefit to the donor/seller. If the charity assumes the lien or mortgage, then this is considered taxable income to the donor/seller.



The material presented on this Planned Giving website is not offered as legal or tax advice.
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