Donating Real Estate to CHP
When land or other property is donated to CHP, we will typically rehabilitate the property or design and build new single- or multifamily housing, which is then sold or leased to low-income families.
Donated properties must be cleared of liens and property taxes, and have marketable title. The property can be owned by a business, institution, or individual. Ideally, any land donated is affordable, buildable property on a public road with direct access to utilities; however, CHP is willing to explore various possibilities.
- recycling or moving a donated house instead of demolishing it
- donation of an entire property or a portion of a parcel
- donation during the property-owner’s lifetime or as a bequest in a will
- donation of property to sell rather than build
- gifts that are spread over several years in fractional portions
A charitable real estate contribution transfers ownership and management responsibilities to CHP, often providing maximum income tax, estate, and capital gains tax benefits to the original property owner. CHP is a non-profit 501(c)(3) corporation and therefore donations to us are tax deductible. However, the tax implications of your donation will depend on the value of your gift, your financial circumstances, the tax rules in effect at the time of the donation, as well as other factors.
We will work with the donor, whatever the circumstances may be.