Real Estate
Interested in making a gift of real estate?
Your Property Can Support Our Lifesaving Mission
Donating real estate – such as a personal residence, farm, or commercial property – helps us advance our mission for years to come while also benefiting you. There are several options for donating property, each with unique advantages and benefits.
Benefits
Benefits of donating your property to the American Heart Association may include:
- Improving liquidity by eliminating expenses normally associated with property ownership (real estate taxes, maintenance costs, insurance, etc.)
- Receiving an immediate income tax deduction based on the fair market value of the real estate on the date the ownership is transferred.
- If the property has appreciated, avoid 100% of the capital gains tax owed if you sold the real estate.
What Types of Real Estate Can You Gift
- Income-producing properties such as a rental home, vacation property, or commercial real estate
- Farm and agricultural land
- Personal residence
Ways to Give Real Estate
There are several options available when considering a gift of real estate. Each has unique advantages and will depend on your personal circumstances, your goals, and the type of real estate that you own.
Outright Gift
An outright gift of real estate transfers full ownership of the property to the American Heart Association immediately. If you donate real estate that you have owned for longer than one year, you qualify for a federal income tax deduction equal to the property’s full fair market value. You also bypass capital gains tax on its appreciation.
Charitable Gift Annuity
You can donate real estate to fund a charitable gift annuity and receive dependable income for life in exchange for your gift.
Charitable Remainder Trust
You can donate appreciated real estate, provided it is unmortgaged, to a charitable remainder unitrust or annuity trust, in exchange for an income stream for life or a term of up to 20 years.
Charitable Lead Trust
Donating appreciated real estate to a charitable lead or annuity trust can be a way for you to support the American Heart Association while transferring appreciated real estate to your family tax-free.
Retained Life Estate
A retained life estate gift allows you the opportunity to gift your real estate while retaining full use of the property for the rest of your lifetime. In exchange for your irrevocable gift, you receive an immediate income tax deduction based on a percentage of the property’s value. Because you maintain control of the property, you continue to be responsible for property taxes and maintenance costs. At the end of your lifetime, the association assumes control of the property.
Gift of Real Estate in Your Will or Trust
Leaving your property to the association in your will or trust is one of the simplest ways to make an impact on our mission and to create a personal legacy.
Donor Spotlight: Michael Collins
“I had a home in Florida and I wasn’t living in it anymore. I didn’t want to go through the hassle of selling it. By donating it to the American Heart Association, they get the benefits from it now. I chose to give it to the American Heart Association because of the work I've done with them in the past. My wish is to educate the public on healthy aging, lifestyle and prevention without total reliance on medications.”
– Michael Collins