Gifts of Real Estate

Gifts of real estate that have appreciated in value enjoy the same tax advantages as gifts of appreciated securities-you may claim a charitable deduction and avoid capital gains tax liability for the appreciation. In most cases, a gift of real estate entitles you to a charitable deduction for the property's full fair market value. Property that is readily marketable and not subject to a mortgage makes the best type of real estate gift. Real estate can be used to make an outright gift or to make certain types of planned gifts. For example, real estate can be placed in a trust from which you receive income for the remainder of your lifetime. Consider also a gift of your residence that allows you to continue to use it during your lifetime.

Because special gift acceptance policies and tax rules apply to these types of gifts, we encourage you to consult your tax or financial advisor and the University's Office of Gift Planning at (773) 702-3130 or giftplan@uchicago.edu when considering such a gift.