Gifts of Real Estate

A gift of real estate can include a gift of a principal or vacation residence, farm, timberland, commercial buildings or unimproved land and can be for the entire property or a fractional interest. Gifts of real estate entitle you to the same tax benefits as gifts of appreciated securities, provided you have owned the real estate for more than one year and there are no liens on the property. The donor is entitled to a charitable income tax deduction of the full fair market value of the real estate, valued at the time of the gift. Additionally, the donor will avoid capital gains tax on the transfer. Gifts of real estate can also generate substantial estate tax savings by removing a high-value asset from your estate. Appreciated real property is also an excellent asset to use to establish a charitable remainder trust.

Since your home or property may be your most valuable asset, you may want to consider a gift of a remainder interest in your property instead of an outright gift. A gift of a remainder interest allows you to continue to enjoy your home for your lifetime, and the lifetime of your spouse, while providing a current charitable income tax deduction and potentially lower estate tax costs. See the retained life estate topic under deferred gifts.

Acres of Opportunity is a program to provide landowners a way to create a land legacy by gifting property to CNR. Meet your financial goals for family and charity by protecting and conserving North Carolina’s natural resources today and investing in the natural resource leaders of tomorrow. Land gifted to CNR will meet one of the following objectives:

• To grow and harvest timber to fund CNR teaching, research and extension programs and manage the property
• To create wildlife habitat and provide recreational opportunities
• An outdoor classroom for extension programs and for NC State students
• To conduct research

and/or

• Be sold to provide program support, to fund an endowed scholarship, or trust to benefit Academic, Research or Extension Programs.

Acres of Opportunity Brochure

CNR works closely with potential donors to match their business, conservation, educational, and philanthropic goals with innovative land-grant programs.