Gifts of Real Estate
A gift of your appreciated real property (such as your home, vacation property, vacant land, farmland or ranch, or commercial property) can make a great gift to the Chesapeake Bay Foundation.
Here are some of the benefits you may enjoy:
- Avoid paying capital gains tax.
- Receive a charitable income tax deduction.
- Leave a lasting legacy.
How You Make a Gift of Real Property
Your real property may be gifted to the Chesapeake Bay Foundation by executing or signing a deed transferring ownership. You may deed part or all of your real property to the Chesapeake Bay Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
Can You Make a Gift of Mortgaged Property?
Please contact us if the property you wish to give has existing debt or a mortgage. Check with us on the capital gains tax implications of your gift. You also may be interested in life income options.