Donating marketable real estate, such as your home, ranch, farm, vacation property, undeveloped land or commercial property can make a great gift in support of our families. As Fort Bend Women's Center is a tax exempt organization, we can sell your property without incurring capital gains tax, putting its full worth toward helping our survivors and their children. The property must be free of liens, environmental hazards and able to be sold.
Benefits of donating property
- Avoid capital gains tax on the sale of your real estate
- Receive a charitable income tax deduction based on the value of your gift
- Provide support to our families
How to make a gift of real estate
Your property may be given to Fort Bend Women's Center by signing a deed transferring ownership. The amount of your gift will be based on the property’s fair market value, which must be determined by an independent appraiser.
Can I still live on my property?
You can give your property to Fort Bend Women's Center while retaining a life estate. This means that after deeding the property to us, you can live in your home or farm for your lifetime, and that of any other life estate party named in the deed. When those named in the deed have passed away, the property will then belong to Fort Bend Women's Center.
Benefits of a retained life estate
- You will get a federal income tax deduction for the value of the remainder interest in your home or farm.
- You will preserve your lifetime use and control of your property.
- You can create a life estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child.
How a life estate works
- You deed your home or farm to Fort Bend Women's Center. The deed will include a provision that you have the right to use your home for the rest of your life and that of any other life estate party named in the deed.
- You and the Fort Bend Women's Center sign a maintenance, insurance and taxes (MIT) agreement stating that you will keep the property in good condition and pay the property insurance and taxes.
- When the owners of the life estate have passed away, your home or farm will belong to Fort Bend Women's Center, to use for our mission.
Please contact us if you would like to learn more about donating property directly or through a life estate plan.
Rachel Bromley | Grants Manager | 281-344-5758 | email@example.com