Gifts of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to The University of Akron 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 The University of Akron Foundation
How to make a gift of real estate
All potential gifts of real estate must be reviewed and approved by the Executive Director of the UA Foundation.
Your real property may be given to The University of Akron Foundation by executing or signing a deed transferring ownership. You may deed part or all of your real property to The University of Akron Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
Alternatively, you can leave a bequest of real estate to The University of Akron Foundation in your will or trust. In some states, you can also designate a transfer on death beneficiary for real estate. These options allow you to retain use and ownership of the property during your lifetime and may provide tax deductions for your estate or trust under certain circumstances.
Contact us
If you have any questions about gifts of real estate, please contact us. We would be happy to assist you and answer any questions that you have.
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