Gifts of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to Seattle Foundation and fuel your philanthropy for years to come.
Benefits of gifts of real estate
- Avoid paying capital gains tax on our sale of appreciated property
- Receive a charitable income tax deduction based on the value of the gift
- Leave a lasting legacy to Seattle Foundation
How to make a gift of real estate
Your real property may be given to Seattle Foundation by executing a deed transferring ownership. You may deed part or all of your real property to Seattle Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
Contact us
Gifts of real estate can be powerful tools for philanthropy, and they can be complex, depending on the mortgage status of the property, the property's location and condition, and whether or not you wish to retain the right to inhabit the property. For all of these considerations and any other questions you might have, please get in touch with the Gift Planning team.
Special considerations for gifts of real estate
Mortgaged Property - Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Difficult Property Gifts - Certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift. You may also be interested in life income options, which we are happy to share more about.