Convert Your Property
To Its Full Potential
As with gifts of appreciated stock, a gift of real estate to Michigan Tech can benefit both you and the University. You may choose from a number of options in making a gift of real estate:
- Make an outright gift of your personal residence, vacation home, farm, or other property to the Michigan Tech Fund. By converting your real estate into support for Michigan Tech, you receive the maximum charitable deduction and freedom from further concern about the management or sale of your property.
- Make a charitable bequest of real estate and maintain control of the property.
- Convert your real estate into a new stream of income for yourself or others by using it to establish a life income gift.
- Give your real estate to the Michigan Tech Fund while continuing to enjoy the property. This option, called a life estate, is an irrevocable gift made now with the transfer taking place later. In return, you receive an income tax deduction and the continued enjoyment of your property. Normal taxes, maintenance, and insurance remain your responsibility.
Gifts of real estate typically require the donor to arrange and pay for a qualified appraisal no more than sixty days before the date of the gift. To assess its potential benefit to Michigan Tech, every gift of real estate is carefully evaluated before it is accepted.
Contact the Office of Gift Planning for more information.
Benefits of Real Estate Gifts
- Charitable deduction based on current fair market value of property
- No capital gains tax on outright gifts of appreciated real estate
- Michigan Tech program of your choice receives significant benefit