A gift of real property can include personal residences, vacation homes, rental property and farmland. You have a number of options for making a gift of real property to Detroit Public TV:
- You can make an outright gift and claim a tax deduction.
- You can give later through a gift in your will or revocable living trust.
- You can deed the remainder interest of your personal residence to Detroit Public TV, retain the right to remain in the home for life and receive a tax deduction.
Through a gift of real property, you can perhaps make a much larger gift than you otherwise thought possible, avoid income and estate taxes, and minimize or eliminate burdens placed on your loved ones.