Gifts of Real Estate

Since these gifts are unique and handled on a case-by-case basis, it is important to work with one of our development staff, as well as your own advisers when considering a gift of real estate.

Several ways to donate a gift of real estate are outlined below:

An Outright Gift
An outright gift is the complete transfer of your property to Texas Lutheran University. TLU will then, most likely, sell the property and the proceeds will be used to help fulfill the mission of TLU to be a community of faith and learning.

A Remainder Interest (or Retained Life Estate)
Allowing you to retain the right to use your residence, vacation home, farm, or ranch even after you have given it to TLU is the goal of a making a gift of retained life estate. This can result in a significant tax deduction at the time of the gift while still allowing you (and/or your spouse) the right to use the property for the rest of your lives.

A Charitable Remainder Unitrust
Your gift of real estate can be used to set up a charitable remainder unitrust that will pay you an income for life. To learn more about this option and others that provide an income for life, please visit our life income gifts page.

A Bargain Sale
A bargain sale allows the land owner to sell his or her property to a non-profit organization, like Texas Lutheran, at less than fair market value. The seller receives the sale price and difference between that price and the appraised fair market value qualifies as a tax deductible, charitable contribution.

The amount of your immediate charitable income tax deduction will vary depending on which gift option you choose. You are responsible for having an appraisal of the property prepared to establish the value for the charitable income tax deduction.

Gifts of real estate are welcome, but these must result in the university having 100 percent interest in the property (no leans or loans of any kind on the property) and that an environmental assessment of the land has been completed.

For more information and details about gift planning, call Renee Rehfeld, assitant vice president for development, 830-372-8030 or fill out a request form.