Gifts of Real Estate
Convert your property to its full potential
As with gifts of appreciated stock, a gift of real estate to the Michigan Tech Fund can benefit both you and Michigan Tech. You may choose from a number of options in making a gift of real estate.
- You may make a outright gift of your personal residence, vacation home, farm, or other property. By converting your real estate into support for Michigan Tech, you will receive the maximum charitable deduction and freedom from further concern about the management or sale of your property.
- You may convert your real estate into a new stream of income for yourself or others by using it to establish a life income gift. Please see the section on charitable lead trusts for further information.
- You may give your real estate to the Fund while continuing to enjoy your home or other property. This gift, called a life estate, is an irrevocable gift made now with the transfer taking place later. In return, you receive an income tax deduction and the continued enjoyment of your property. Normal taxes, maintenance, and insurance remain your responsibility.
Gifts of real estate typically require the contributor to arrange and pay for a qualified appraisal no more than 60 days before the date of the gift. To assess its potential benefit to Michigan Tech, every gift of real estate is carefully evaluated before it is accepted. The Michigan Tech Fund will be happy to provide you with more information before you make specific plans.
Benefits of real estate gifts
- Charitable deduction based on current fair market value of your property
- No capital gains tax on outright gifts of appreciated real estate
- Michigan Tech program of your choice receives significant benefit