Gifts of real estate

A gift of real estate to the University of Chicago is a unique way to provide a lasting benefit to the University. It is also a convenient way for you to enjoy a charitable deduction based on the current fair market value of your property and to reduce the size and complexity of your estate. Because a gift of real estate will usually be sold as soon as practicable after it is gifted, the real estate must be free of debt and must be readily marketable. An added benefit is that in most cases, all aspects of its sale are handled by the University.

Not only can real estate be used to make outright gifts, it can also be used to make future gifts to the University. For example, should you wish to give a remainder interest in a piece of real estate now but still desire to live in or continue to vacation in the property for the rest of your life, you may do so. On the other hand, if you have a need for current income, you may wish to use a piece of real estate that you no longer wish to use to fund a trust which will provide valuable financial support to you and your family for years to come.

Please note: Information found on this page is intended to provide general information an is not intended as legal advice nor should be relied upon as such.
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