Donate Real Estate FAQ

Donate Real Estate FAQ

Taxes

Please note that CHI does not provide tax advice. Potential donors should consult their tax advisor for specific guidance.
In general, you can claim the fair market value of the donated property as a deduction.
The fair market value of your property must be determined in writing by a qualified appraiser of your choice.
CHI does not value the property or receive a copy of the appraisal.
You need to prepare form 8283 and send it to us so we can sign Part IV of Section B. We will return the signed form to you, and you will file it with your tax return.
A tax deduction can be claimed in the year the property is donated. You may be able to claim the deduction for up to five years, depending on your tax situation.

The Process

Follow this link to complete a simple form that captures preliminary data. We will contact you to obtain a better understanding of your property.

We then conduct a property review that includes a title, tax and lien search as well as a review for environmental issues. We also evaluate the property to ensure our mission can maximize the benefit from your generous donation.

If our review is successful, we will prepare all necessary documents and schedule a closing. We will also pay all closing costs and recording fees.

An acknowledgement of your donation will be sent to you shortly after the closing.

The entire process should take 3 – 6 weeks.

  • You receive a tax deduction for the appraised value of your donation.

  • You no longer incur property tax and maintenance fees.

  • CHI pays all closing costs and recording fees.

  • We handle administrative requirements to make it easy for you.

Types of Properties Accepted

You can donate vacant land, homes, condos, apartment buildings, commercial and industrial property.
Yes
Possibly, depending on our review of the specific facts and circumstances of your donation.
Possibly, depending on our review of the specific facts and circumstances of your donation. We require disclosure of any knowledge you have of environmental hazards on the property.