Gifts of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property, can be of great benefit to Summa Health.
Benefits of gifts of real estate
- You avoid paying capital gains tax on the sale of the real estate.
- You receive a charitable income tax deduction based on the value of the gift.
- You leave a lasting legacy to Summa Health.
How to make a gift of real estate
Your real property may be given to Summa Health by executing or signing a deed transferring ownership. You may deed part or all of your real property to Summa Health. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
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.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift. You may also be interested in life income options.
Contact us
If you would like more information about gifts of real estate, please contact us. We would be happy to assist you.
