Real Estate

Real estate can be contributed as an outright gift or to finance a planned gift, such as a charitable trust. Options include a retained life estate, which allows the donor to continue to use the property for a certain number of years or for the donor's lifetime. Other arrangements offer special tax advantages and lifetime income.

Gifts of real estate, such as undeveloped land, a residence, a vacation home, a farm or commercial property, should be arranged through the Office of Planned Giving and made through MCG Foundation, Inc. The university requires the donor to bear certain costs when making a real estate gift, such as an appraisal to determine the fair market value. Also, the university deducts transaction costs from the proceeds of the sale of the property, including the closing costs, title insurance, a survey (if needed) and any taxes due before the gift is completed.