Gifts of Real Estate
A gift of real estate, whether it's a home, vacation property or undeveloped land, can unlock high charitable value. Depending on your goals, there are many ways to gift property to Western Michigan University Foundation.
Benefits of gifts of real estate
- Avoid paying capital gains tax on the sale of the real estate.
- Receive a charitable income tax deduction based on the value of the gift.
- Leave a lasting legacy to Western Michigan University Foundation.
How to make a gift of real estate
Your real property may be given to Western Michigan University Foundation by executing or signing a deed transferring ownership. You may deed part or all of your real property to Western Michigan University Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
Contact us
Questions about gifts of real estate? Please contact us and we'd be happy to assist you.
Additional Information
Mortgaged Property - Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Difficult Property Gifts - Certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift. You may also be interested in life income options.
