How does it work?
Habitat for Humanity Cabarrus County is a 501(c)(3) public charity. When you make a contribution of real estate to Habitat for Humanity Cabarrus County, you won’t have capital gains exposure because you’re gifting—not selling—the property; this means your charitable gift, and your tax deduction as well, may be over 20% higher.
Considerations for donating real estate:
- The property must be “highly marketable” and ideally will be highly appreciated.
- While the charity will consider investment property with an income stream, the charity’s due diligence process for investment property is considerably more involved.
- The property generally must be debt-free.
- The individual must be willing to irrevocably transfer the property to the charity, which will exclusively control the sale, including negotiating the sale price.