REAL ESTATE
A gift of Real Estate allows you to give an immediate gift and receive an immediate tax receipt for the fair market value of the property. 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 Campbellford Memorial Hospital Foundation during your lifetime. This type of gift may appeal if you are looking at ways to reduce your income tax now and are not in need of the dollar proceeds of the sale.
HOW YOU BENEFIT FROM GIFTS OF REAL ESTATE
HOW DOES IT WORK?
Campbellford Memorial Hospital Foundation begins the valuation process. An independent appraiser must appraise the property. After the fair market value is determined, you sign and deliver a deed transferring the property to Campbellford Memorial Hospital Foundation. A tax receipt is then issued for the fair market value as of the day on which the transfer takes place.
Please seek expert advice.
If you are thinking about transferring assets that have appreciated in value, you should seek expert advice from a tax specialist or financial planner. Campbellford Memorial Hospital Foundation strongly recommends professional advice to ensure that your financial goals are considered, your tax situation reviewed and your planned gift is tailored to your circumstances. For further information, please call our office at 705-632-2014.