Gifts of Real Estate
A charitable gift unearthed
Benefits of Gifts of Real Estate
- Avoid paying capital gains tax on the sale of the real estate.
- Receive a charitable income tax deduction based on the value of the gift.
- Leave a lasting legacy for your community through the PACF.
How to Make a Gift of Real Estate
Your real property may be given to the Foundation by executing or signing a deed transferring ownership, a :Transfer on Death Deed." You may deed all or part of your real property to the Parkersburg Area Community Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal, with the gift transaction subject to the PACF's Gift Acceptance Policy.
If you have any questions about gifts of real estate, please contact us. We would be happy to assist you and answer any questions that you have.
Mortgaged Property - Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Difficult Property Gifts - Certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift.