A Gift of real estate — reduce capital gains, now or later

Real estate (your primary residence, vacation home, commercial property, farm or land) is an asset you can leverage in a variety of ways to support Meher Mount while reducing taxes and eliminating the burden of maintaining or selling your property.

Do you own?

• Property that is a burden to manage?

• Property that you don’t use anymore, such as a vacation home?

• Property that if you sell, you will owe significant taxes?

• Or even a home that you currently live in and your heirs will not want when you are gone?

If the answer is yes to any one or more of these questions, consider donating that property to Meher Mount.

Benefits & How It Works

There are many gift arrangements that can be funded with real estate, all with significant tax benefits. Each approach, however, is distinctive, and your personal financial and estate planning goals should determine which option is best for you.

• Make an outright gift of real estate

You may consider making a gift of your residence, rental or commercial property or undeveloped land to Meher Mount Corporation, to be sold to support the Agnes Baron Endowment for Meher Mount or the Meher Mount General Fund.

By making an outright gift of appreciated property, a double tax savings may be possible. In most cases, you will receive a charitable income tax deduction for the full value of the property and you will not be liable for capital gains tax on the transfer because the property was donated rather than sold.

• Make a gift of real estate through your will or living trust

You may choose to leave real estate to Meher Mount Corporation as a gift (bequest) through your will or living trust. Once Meher Mount receives the property, it is generally sold, and the proceeds are used to fund the Agnes Baron Endowment for Meher Mount or the Meher Mount General Fund based on your choice.

• Create a Retained Life Estate

Another option is to establish a retained life estate in which you deed real estate to Meher Mount while retaining full use of your property for life. See discussion on Retained Life Estates.

• Fund a Charitable Remainder Trust

Establishing a charitable remainder trust with a real estate asset means that after the property is sold, you (and/or your loved ones) will receive a managed income stream for life or for a set number of years. You also benefit from a charitable income tax deduction for a portion of your gift. After your lifetime, or whenever the trust terminates, the remaining trust assets are transferred to Meher Mount for the fund you designated. You will need to use a third-party firm to set up and manage the trust. See the discussion on Charitable Remainder Trusts.

How to make a gift of real estate to meher mount

Once you have discussed your options with your advisors and are considering a gift of real estate to Meher Mount, please contact Meher Mount’s Treasurer, Robert Turnage to assess the applicability to Meher Mount. All discussions are confidential and do not imply an obligations.

• Call Robert Turnage, Treasurer: 916-837-3907

• Email Robert Turnage, Treasurer: robert.turnage@sbcglobal.net

Information you will need:

Legal Name: Meher Mount Corporation, a non-for-profit 501(c)3 organization
Address: 9902 Sulphur Mountain Road, Ojai, CA 93023-9374
Telephone: 805-640-0000
Federal Tax ID: 77-0236525

Questions or Need More Information?

Conversations with Meher Mount’s planned giving team are always confidential and never imply an obligation. Robert Turnage, Treasurer for Meher Mount, will respond and provide the information you requested. 

Share Your Plans to ensure your legacy

If you have already included Meher Mount in your plans (or intend to), please let Meher Mount know.  We can answer any questions your plan administrator might have.

Understanding your intentions will help Meher Mount make sure your gift is used exactly as you wish.  And we would also like to personally acknowledge your thoughtfulness and generosity.

Consult Your Personal Advisors

The information provided above is not to be construed as tax, accounting or legal advice and could change as tax laws change. You are advised to consult with your legal advisor, tax advisor, or professional estate planner to determine which options are best suited to your individual situation.