The Community Foundation can help you turn your home, vacation home, business property or land into a charitable gift through the Western North Carolina Real Estate Foundation, a supporting organization of CFWNC.
When you give real property that you have owned for more than a year, your gift qualifies for an income tax charitable deduction equal to the property’s full fair market value. You also avoid tax on long-term capital gain. Proceeds from the property’s sale can create or be added to a CFWNC fund.
Gifts of real estate require due diligence prior to the contribution, usually including a site visit to the property, a qualified appraisal, a preliminary title report, and an environmental assessment. We make the process as easy as possible, managing and selling the property after it is contributed.
Professional advisors with clients interested in leaving a planned gift of real estate can review Sample Bequest Language.
Learn more about Real Estate Gifts