Donating Real Estate

In accordance with CHAT’s mission to provide affordable rental housing for people without housing we are constantly working to expand our supply of suitable rental units within our community. 
 

An excellent way for you to support CHAT’s mission is to donate a residential property or to leave us a bequest in your will or living trust. A bequest of real estate property would help CHAT to provide affordable housing to families and individuals who are unhoused. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
 

Your donation of residential real estate, has the potential to make a significant impact in furthering CHAT’s mission. You can simultaneously benefit from important tax benefits, such as a charitable income tax deduction or avoidance of capital gain tax. Gifting your property would result in its removal from your estate, potentially reducing estate taxes and probate costs. Gifts of property can be made in a variety of ways:
 

• Outright gift: An outright gift of your property would give you the benefit of knowing that another home has been made available to individuals in your community. CHAT will not sell donated property but will retain residential property to fulfill it mission. Other benefits from an outright gift of real property would include an income tax deduction for the property’s full fair market value.

• Retained life estate: If you want to gift your residence, but want to live in it for your lifetime, this is possible with a retained life estate. Benefit from the satisfaction of making an important gift during your lifetime in addition to an income tax deduction in the year you make the gift

• Bequest: You can gift real estate through your will or trust.
  
  
   

 

If you would like to get further information about donating your property to CHAT, please contact us at development@chicohousingactionteam.net