A variety of opportunities are available to use unmortgaged residential, commercial or undeveloped property for charitable giving. Some of your options may be:
- making an outright donation
- placing your property in trust
- retained the use of it for life
- gift it in your Will
A real estate gift can realize important tax and income benefits.
LLSC will review your offer and evaluate the property's condition and marketability to determine the benefit of accepting such a gift. If the proposed property is acceptable to LLSC, you will need a qualified third-party appraiser to determine the fair market value of the property.