Gifts of Real Estate

A current, outright donation of real estate would allow your gift to make a difference at Sandusky Central Catholic School now and could generate significant tax savings. Leaving real estate to SCCS through your will or living trust is an efficient way to make a meaningful gift in the future without impacting your current lifestyle.

What are the benefits?

  • One of the most flexible charitable giving options available, real estate can be used to make a gift that:
    • Provides an immediate charitable deduction for the fair market value of the property while potentially avoiding capital gains taxes.
    • Gives you income for life and an immediate tax deduction, while leaving the remaining assets to SCCS after your death.
    • Provides SCCS with income for a few years, then is passed on to your heirs at the time you specify with considerable estate and gift tax savings.
    • Qualifies you for a significant immediate tax deduction, allows you to use the property for your lifetime and leaves the property to SCCS at your death.
  • The real cost of your gift is reduced, since you'll save on income and capital gains taxes by giving appreciated property to SCCS.

How does it work?

  • You deed your home, farm, vacation home, undeveloped land or commercial building to SCCS.
  • SCCS sells the property and retains the proceeds.

Planning Tips

  • Gifts of real estate can be made to SCCS by donating the entire property or a partial interest in the property.
  • With all gifts of real estate, SCCS conducts a due diligence evaluation of the property to determine its acceptability with respect to outstanding mortgages, liens and presence of hazardous substances, as well as the marketability of the property.
  • Mortgage-free properties provide you with greater tax benefits than mortgaged properties.
  • To meet IRS requirements, you will need to obtain an appraisal from a qualified appraiser.
  • The exact tax savings depends on the type of gift and your specific situation.

Keep in mind: gifts of real estate require a qualified appraisal and can take time to complete—contact SCCS early in your decision-making process.