Gifts of Real Estate

Gift of Real Estate Diagram

How It Works

  • You deed your home, vacation home, undeveloped property, or commercial building to Mercy Foundation North.
  • You may continue to use the property rent-free, and then ownership passes to us when you no longer need it.
  • Mercy Foundation North may use the property or sell it and use the proceeds.

Benefits

  • You receive an income tax deduction for the fair market value of the real estate.
  • You pay no capital gains tax on the transfer.
  • You can direct the proceeds from your gift to a specific program at Mercy Foundation North.

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The material on this website is not offered as legal or tax advice. Please consult with your professional advisors prior to any gift.
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