Real estate is a very common gift to The Church of Jesus Christ of Latter-day Saints and its affiliated institutions. By giving real estate to the Church, you can fulfill your charitable objectives and do the following:
- be relieved of property and management responsibilities
- time the gift to take advantage of market value
- receive an immediate income tax deduction
- avoid capital gains taxes (if the property were otherwise sold)
- reduce the size of your estate
Real estate can also be used to make a planned gift to the Church or one of its affiliated institutions through various gift planning tools, including the following:
- a will or revocable trust
- a charitable remainder trust (providing income to you for life as well as tax benefits)
- charitable lead trusts (providing annual income to the Church for a period of years, following which the trust assets may be transferred to your heirs)
A gift of real estate may come in a variety of forms, including commercial real estate, a personal residence, a farm or ranch, or unimproved property. See below a link to each type of real estate, providing additional details and information regarding specific features of each as well as the tools available to make a gift that will best fit your individual circumstances and goals.
Commercial Real Estate
Commercial Real Estate is a very common gift to the Church or one of its institutions.
A personal residence may be an ideal gift under the right circumstances.
Farm or Ranch
The family farm or ranch can make an ideal gift to the Church or one of its institutions.
Your unimproved property may have increased in value during the time you have owned it.