Before you sell real estate, consider this: your property opens the door to a unique giving opportunity. You can further Rutgers’ mission by donating property outright, creating a life estate, placing it in a trust, or leaving it in your will. All of these methods yield financial benefits while supporting the university in a meaningful way.
Using real estate, whether it is your primary residence, vacation home, farm, or commercial property, to fund a gift allows you to preserve your cash assets, receive significant tax and income advantages, and make a larger charitable gift than anticipated.
When you make a gift of real estate, you can claim an income tax charitable deduction for the full fair market value of the real estate and avoid capital gains taxes on the appreciation.
All gifts of real estate require approval by Rutgers University Foundation’s Gift Planning Acceptance Committee.
Types of Gifts
- Make an outright gift, which can be used to endow a scholarship or fellowship.
- Fund a trust that pays you guaranteed income for life or a term of years.
- Transfer ownership of an interest in the property to Rutgers. After the property is sold, Rutgers would receive its share of the proceeds.
- Make a gift through a retained life estate arrangement, under which you give Rutgers your home, but retain the right to live in it for the rest of your life or as long as you wish.
If you would like to discuss the tax benefits of making a gift of real estate, please contact the Office of Gift Planning at 1-888-782-3666 or firstname.lastname@example.org.