Gifts of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to Scripps Health.
Benefits of gifts of real estate
- Let Scripps do the work of selling your gifted property
- 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 to Scripps Health
How to make a gift of real estate
You may give your property to Scripps Health by executing or signing a deed transferring ownership. You may deed part or all your property. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal within 60 days of gifting the property.
A Reserved Life Estate, of a qualified primary residence, allows you to remain owner and in control of your property for life and guarantees that the property will transfer to Scripps Health upon your death.
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. Scripps normally does not accept property with debt, but will review on a case-by-case basis. Indebtedness can affect your charitable tax deduction.
Gifts of Mineral Interests - Gifts of mineral interests are valuable property rights. You can use your mineral rights to fund a variety of different planned gifts.
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. You may also be interested in life income options.