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Gift of Real Estate

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Giving a gift of real estate, such as a personal home, vacation home, undeveloped property, or a farm, can be a highly effective philanthropic and financial strategy.

There are several ways to gift real property to Bhaktivedanta Institute:

Outright gift of real estate

You can transfer real property such as a home (primary residence or second or third home) by executing a new deed. Afterwards, the Institute will sell the property and use the proceeds for the purpose (professorship, endowing a scholarship, etc.) you choose. This option is appealing because you see your gift go to work right way.

Fund a charitable remainder trust with real property and receive annual income for life!

This option is especially appealing to owners of rental or commercial real estate property, although any real estate can work. For example, you enjoy the property’s annual income stream, but you may find the burden of ownership more than you want to handle. Plus, a sale will result in a large capital gain because depreciation deductions over the years have reduced your cost basis to near zero. The charitable remainder trust is an excellent solution. You transfer the property to the trust. You claim an immediate income tax deduction. No capital gain tax is due upon transfer. Bhaktivedanta Institute handles the property sale for you. Perhaps best of all, you still have an income stream because the trust makes payments to you, every quarter for the rest of your life. At the death of the donor or other beneficiaries, the balance in the trust (the “remainder”) is given to Bhaktivedanta Institute as your gift.

To discuss the tax and other benefits of making a gift of real estate, contact Bhaktivedanta Institute.

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