Gifts of Real Estate
Donating appreciated real estate, such as a home, undeveloped land, farmland, timberland or commercial property can make a great gift to Community Foundation of Central Georgia.
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
- Create a fund at the Community Foundation of Central Georgia
How to make a gift of real estate
Your real property may be given to Community Foundation of Central Georgia by executing or signing a deed transferring ownership. You may deed part or all of your real property to Community Foundation of Central Georgia. The charitable deduction of your gift will generally be based on the property's fair market value, which must be established by an independent appraisal obtained by you. The holding costs of the donated property must also be covered by the donor or fund.
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.
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.