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Real Estate Donation: Who it's for

This option may be suitable for

1. Property owners facing significant capital gains tax liability due to appreciated property values.

 

2. Individuals seeking to simplify estate planning and reduce estate tax liability

 

3. Property owners no longer using their property and looking to avoid ownership and maintenance expenses.

 

Benefits

 

By donating real estate:

 

1. Reduce estate tax liability

 

2. Eliminate ownership and maintenance expenses

 

3. Make a significant charitable gift in support of our mission

 

How It Works

The process involves:

 

1. Contacting us to express your interest in donating real estate.

 

2. Obtaining an appraisal of the property to determine its fair market value, aiding in calculating your charitable deduction for tax purposes.

 

3. Collaborating with us and your attorney to transfer property ownership, which may include executing a deed, transferring title, and fulfilling legal or regulatory requirements.

 

4. Claiming your charitable deduction on your tax return for the year of the donation.

Olive Hill CEDC is dedicated to rehabilitating or developing real estate properties to provide affordable housing for clients.

 

Considerations

Consult a qualified estate planning attorney and tax professional to determine if this option is right for you. There are also restrictions on the types of property we can accept, so please contact us before making a donation!

 

 

828-475-4620

Tax ID # 31-1639629

Contact Information

Thanks for your consideration!

We'll be in touch soon!

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