This is the right gift for you if you:

• Wish to make an outright, life-income, or retained life estate, or bequest gift.
• Own real estate that is not subject to a mortgage
• Wish to avoid incurring capital gains tax on the transfer of a highly appreciated asset- OR-
• Wish to become joint owners of the property with Oberlin College
• Have owned the property for more than one year

This asset can be used to fund: Charitable Remainder Trusts; Retained Life Estate; and Charitable Lead Trusts.

This asset can be designated to: Area of Greatest Need; Scholarships; Professorships; Endowment; and the Conservatory.

• Outright Gift of the Entire or a Fractional Interest
• See an Example

Taking the next step:

To learn more about gifts of real estate, please contact the Gift Planning staff at gift.planning@oberlin.edu or 440-775-8599. We also encourage you to fill out the request for more information form so we may better assist you.

Outright Gift of the Entire or of a Fractional Interest
An outright gift of unencumbered real estate may enable you to make a significant gift to Oberlin without incurring capital gains tax on the transfer of a highly appreciated asset. You may give your entire interest or a fractional interest in the property. A gift of a fractional interest will make you and Oberlin joint owners. A gift of an interest in real property to Oberlin will entitle you to a charitable deduction equal to the fair market value of the interest in the property on the date of the transfer, provided you have owned the property for more than one year. Oberlin will consider gifts of personal residences, vacation homes, undeveloped land, and commercial properties. Household furnishings or contents may also be included in your gift of real estate. Oberlin will manage the disposition of these items.

Gifts of real estate may be subject to an environmental review and a marketability study by the College before the gift is accepted.

Example: Real Estate
Roberta Weddle owns an unencumbered lot in a housing development. She purchased the lot 15 years ago for $10,000, and it is now valued at $50,000. Mrs. Weddle would like to give the property to establish a library fund in memory of her husband. Mrs. Weddle’s gift will generate a $50,000 charitable deduction without recognizing $40,000 in capital gain on the transfer. A 30 percent income tax rate reduces the cost of this gift by $15,000 (30 percent of $50,000), and a 20 percent capital gains tax rate further reduces the cost of the gift by $8,000 (20 percent of $40,000). The tax benefits have reduced the cost of Mrs. Weddle’s gift to $27,000. Oberlin will credit Mrs. Weddle with a $50,000 gift and will establish the library fund as soon as the property is sold.