Gifts of Real Estate
How It Works
- You deed your home, vacation home, undeveloped property, or commercial building to Washington and Lee University.
- You may continue to use the property rent-free, and then ownership passes to us when you no longer need it.
- Washington and Lee may use the property or sell it and use the proceeds.
- You receive an income tax deduction for the fair market value of the real estate.
- You pay no capital gains tax on the transfer.
- You can direct the proceeds from your gift to a specific program at Washington and Lee.
- More details about gifts of real estate.
- Frequently asked questions on gifts of real estate.
- Contact us so we can assist you through every step.