Gifts of Real Estate
Giving a gift of real estate, such as a personal home, vacation home, undeveloped property, or a farm, can be a highly effective philanthropic and financial strategy.
Each of the following gift arrangements has distinct tax benefits, which our staff members would be happy to discuss with you:
- Your property can fund a trust that makes payments back to you or someone you name.
- You can choose to make an outright gift of real estate, which can be used for funding a professorship, endowing a scholarship, or other purposes.
- If you are planning to sell your real estate, you can transfer ownership of an interest in the property to New Mexico Tech. After the sale, the University receives its share of the proceeds.
- You can make a gift through a retained life estate arrangement, under which you give NMT your home, but retain the right to live there for the rest of your life. You also receive a current income tax deduction.
- The property that you contribute is removed from your taxable estate.