Making a gift of Real Estate

What if there is debt or a mortgage on the property?

While properties without debt make the simplest gifts, any debt portion could be considered the cash component of a bargain sale. Note that any capital gains will be allocated proportionately to the sale.

Does the property need to be near Grants Pass, or in Oregon?

No, we can accept property from anywhere in the country.

Can I donate property that’s held in trust?

Yes, as long as you have the authority to transfer the property or trust from one entity to another.

What’s the benefit of a donation or bargain sale?

There are many benefits: potential reduction of capital gains, a deductible tax receipt to use for up to five years as well as the year the gift was given, fulfillment of a pledge of funds, and relief from the burden of upkeep and property taxes.

What properties won’t you take?

Timeshares, property without deeded access, property without any access to water or water rights, manufactured homes, and potential brownfield properties are among the types of property we cannot accept.

Are there any catches or pitfalls?

The IRS rules for getting deductions are precise. Talk to your tax professional. Your deduction may not be allowed if you have identified a buyer and have a sales agreement before transferring the property to JCLF.

Failure to meet the IRS guidelines can void the charitable deduction – which means more taxes due.