Gifts of Real Estate

Overview:

Some questions to ask yourself and to think about before you make a gift of real estate .

If you were to make such a gift, what would it be? Your home? Commercial property? Farm Land or unimproved land? There are many possibilities.

•  If a home, would you like to give possession immediately, or would you prefer to remain in it for a period of time? A gift “subject to life estate” would permit you and/or a loved one to stay in your home for the rest of your lives.

•  Have you discussed your plans with your family? With your financial advisers (attorneys, accountants, estate planners, etc.)? Think not only about how the gift might benefit Florida Christian College , but also about how it might improve your own financial situation.

•  Our staff will be happy to discuss with you the possibility of making a gift of real estate. We will go through a gift checklist with you to make sure we have all the necessary information about the property.

•  If you decide to proceed with the gift, a Florida Christian College representative will inspect the property personally. Then you should have it appraised by a certified appraiser. The appraiser will set the dollar value, which will be used for the gift value and for tax purposes.

Things you should not do:

•  Do not have the property appraised until you have committed to making the gift and the College has visited the property. The appraisal cost is only tax deductible if you follow through with the gift.

•  Do not try to set the property's value yourself.

If you have any questions, you may email Bill Behrman or call him at 407-569-1164.