Gifts of Real and Tangible Personal Property

Gifts of Real Estate

Almost any type of property-a personal residence, a farm, a vacation home, a commercial building or an undeveloped parcel of land-can constitute a gift. If you are considering a gift of real estate, please contact us. We will be glad to discuss the potential gift and whether your property will be an effective gift for you and the School of Law. All gifts of real property require the approval of the University's Board of Trustees. Also, at the University's expense a Phase I Environmental Review must be completed.

Gifts of Tangible Personal Property

Tangible personal property includes artwork, jewelry, antiques and other physical objects. A gift of tangible personal property must be considered long-term appreciated property to receive full tax benefits. Your income tax deduction will be dependent on the appraised value (as determined by a qualified appraiser), whether the donated item can be linked to the School of Law's mission and the length of time the School keeps the property. If the gift cannot be linked to the School's mission, your charitable deduction is restricted to the item's cost basis. Gifts of tangible personal property must be evaluated on an individual basis.