Gifts of Real Estate
How It Works
- You deed your home, your vacation home, undeveloped property or a commercial building to UNC Asheville Foundation.
- UNC Asheville Foundation may use the property for its own purposes or may sell it and use the proceeds.
Please let us know if you have already included University of North Carolina Asheville in your estate plan or if you are considering doing so. We would love to hear from you.
- You receive an income tax deduction for the fair market value of the real estate at the time of the transfer.
- You pay no capital gains tax on the transfer.
- You can direct the proceeds from your gift to a specific program at UNC Asheville.
Download a brochure on this topic:
Please contact us so that we can assist you through every step of the process.
Questions and Answers
How do I know if the property I’d like to donate is going to be helpful to your charity?
Here are some questions we will need to answer to determine if your property will be helpful to us:
- Is the property void of any liens?
- Are there any environmental concerns with the property?
- Can our charity actually use the property for our work?
- Is the property marketable and salable within a reasonable period of time?
- What are the costs associated with accepting and holding the property?
- Can we realize a positive net return on this property?
What are the tax benefits of donating real estate?
You will receive an income tax deduction equal to the appraised fair market value of the property. An independent qualified appraisal is required for this purpose and it is up to the donor to acquire such an appraisal. Donating your property may also reduce your estate costs and taxes as well.
Can I arrange for a life income stream for my gift of real estate?
In many cases the answer is yes. Real estate can be transferred to a charitable remainder unitrust which will provide the donor with tax reduction benefits as well as setting up an income stream for beneficiaries such as a spouse, children and/or other loved ones.
Make a gift now.
Have a question or concern? We want to help. Please complete the illustration form, and we promise to be back in touch within two business days. Or call Julie Heinitsh, Assistant Vice Chancellor for Planned Giving & Major Gifts, at 828-232-2430, or email firstname.lastname@example.org