A gift of real estate is often an effective way to make a major gift to a charitable organization such as the University, since the gift entitles the donor to an income tax deduction for the property’s full appraised fair market value and avoidance of capital gains tax. Gifts of real estate can be made either outright, outright but with lifetime residence rights, or through a charitable remainder unitrust.

Almost any marketable real estate is suitable for a charitable gift, including personal residences, farms, commercial buildings, undeveloped land, and shares in a cooperative apartment corporation. Unencumbered property is preferable and generates the greatest tax benefit.