Middlebury

Football Field

Fall Family Weekend Football Game

Increase Font Size Decrease Font Size Print Page Contact Middlebury College

Gifts of Real Estate: The Details

Is this gift right for you?

A gift of real estate is for you if…

  • You hold readily marketable residential, commercial, or undeveloped real estate that has risen in value that you no longer wish to maintain.
  • You are concerned about rising real estate taxes and the capital gains cost of selling the property.
  • You have vacation property no longer needed by any family member.
  • You would like to consider using your real property for a life income giving arrangement.
  • The property is useful to our mission or can be sold easily.

We are happy to consider gifts of residential, commercial, and undeveloped real estate.

As with donations of other types of appreciated property, gifts of real estate secure a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains liability for the transfer to Middlebury.

You can donate real estate to Middlebury in several ways:

  • As an outright donation;
  • As the donation of a fractional interest in the property;
  • As the asset to fund a gift plan that will pay you income, such as a charitable unitrust;
  • By donating your home, while at the same time reserving the right to continue living there for your lifetime or for the lifetime of someone else such as a spouse or sibling (a retained life estate).

When you are considering a gift of real estate, keep two considerations in mind:

  1. We will gratefully review your offer and evaluate the condition and marketability of the proposed real estate to determine that the donation is risk free and appropriate for all parties.
  2. The IRS requires donors of real estate to secure an independent appraisal to establish the fair market value of the property. We can assist you in following the IRS procedures for this appraisal.

Please contact us so that we can assist you through every step of the process.

Back


The material presented on this Planned Giving website is not offered as legal or tax advice.
Read full disclaimer|Sitemap|Planned Giving Content © 2017 VirtualGiving.com

College Advancement

Middlebury College
700 Exchange Street
Middlebury, VT 05753
802.443.5254
supportmiddlebury@middlebury.edu