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| Creative Real Estate Gifts Charitable Bargain Sales With the Charitable Bargain Sale, you sell your residence or other property to Bishop Gadsden at less than its fair market value. The transaction gives you a charitable income tax deduction for the discount you took from market value, plus cash that you can apply toward your entry fee at Bishop Gadsden or for other needs. The bargain sale is the only gift plan that can give you both a lump sum of cash and a charitable deduction. We mutually agree on the purchase price for your property, and on whether we will pay you in a lump sum or through an installment note. Retained Life Estates Another attractive gift plan for real estate is the retained life estate: You give Bishop Gadsden your home, then continue to live there for the rest of your life. We will own the house, but you will continue to be responsible for its ongoing taxes, structural maintenance, and upkeep. And, we mutually agree upfront about what we will do if you no longer wish to live in the house, or become physically unable to continue living there. You will receive a charitable deduction based on the fair market value of your home minus the present value of the life tenancy you have retained. With a retained life estate, you make a significant gift to Bishop Gadsden with the most valuable asset you hold, without disturbing your income or your living arrangements.
To learn more about gifts of Creative Real Estate Gifts, Email us, complete the Information Request form, or call us at 843-762-3300 so that we can assist you. Bishop Gadsden Copyright © 2008, VirtualGiving |
