Gifts of real estate include principal residences, farms, land and commercial property. Giving a gift of real estate allows you to simplify your estate and give to the WHS during your lifetime. This may be appealing if you are looking at ways to reduce your income tax and are not in need of the dollar proceeds from the sale.
An independent appraiser must determine your property’s value. The WHS begins the valuation process and after fair market value is determined, you sign and deliver a deed transferring the property to The WHS. A charitable tax receipt will be provided for the property’s value on the day on which the transfer takes place.
For more information
Email Sharon at email@example.com or call 204-982-2033