Gifts of Real Estate
There are many ways to structure a gift of real property to Stonehill. Whether your objective is to transfer property that you no longer want or need, downsize from your current residence, or even receive a stream of income in exchange for a piece of property, the College can help you achieve your goal.
Through an outright gift you can deed Stonehill your property and gain an income tax deduction for the appraised value of the home, avoid capital gains tax on highly appreciated property, and designate how you would like your contribution to be used to further Stonehill's educational mission.
It is also possible to continue to live in your home during your lifetime and irrevocably deed it to Stonehill at your death. This gift arrangement is called a Gift of Real Estate or a Life Estate Gift and allows you to make a valuable donation to the College while receiving certain tax advantages immediately.
If you want to receive income, you may want to give real estate to a Charitable Remainder Trust. For example, a residence could be placed in the trust, sold by the trustee, and then reinvested in a diverse portfolio of liquid assets. In doing so, you can claim a current charitable income tax deduction for a portion of the home’s value. After the property is sold you can receive a lifetime income from the trust at a fixed or variable rate. After your death, the trust principal will benefit Stonehill College in an area of your choosing, like academic scholarships, athletics, or campus improvements.
As you can see, there are many options when considering a gift of real estate. We are happy to discuss any of these options or their variations in more detail.
For more information, please call the Gift Planning Office at 508-565-1344