Gifts of Real Estate

Contributions of real estate such as a residence, vacation home, farm, ranch, commercial property or land to Franklin College are accepted, subject to certain restrictions. Gifts of land can be given outright, as a gift of a remainder or future interest, or through a charitable trust agreement.

Usually, Franklin College accepts gifts of real estate if no restrictions are placed on selling the property or if the property can be of direct or indirect use by the school. A donor can also transfer title of a personal residence to Franklin College and retain the right to live in or use the property for life. After the death of the donor or the surviving spouse, the property transfers to Franklin College. If the value of the property has declined since its original purchase, it would be better to sell the property for the reduced value and contribute the proceeds.

Another charitable property gift mechanism is the bargain sale in which the donor sells property to Franklin College for less than its full fair market value and deducts the difference as a charitable contribution.

For more information on gifts of real estate, please contact: the Office of Advancement.