Gifts of Real Estate
How It Works
- You deed your home, vacation home, undeveloped property, or commercial building to Clara Maass Medical Center.
- You may continue to use the property rent-free, and then ownership passes to us when you no longer need it.
- Clara Maass Medical Center 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 Clara Maass Medical Center.
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