FAQs
Why donate gifts of real estate?Real estate may be your most highly appreciated asset but probably isn’t your highest yielding asset. We can help you reap the financial, tax and philanthropic benefits. Donating real estate allows you to avoid income, capital gains and estate tax on the sale of the property.
What happens if I want to give my property to more than one charity?The MREF can distribute proceeds to any number of nonprofit organizations both in Minnesota and around the country.
Are there costs for me as the donor for administering the donation of the property?No, however, the MREF retains a small percentage of the proceeds after the real estate is sold to cover the costs of administering the donation and taking on the liability of the real estate.
How much will it cost for a nonprofit organization to use your services?There is no direct cost to the nonprofit organization. To cover the costs of administering the donations and taking on the liability of the real estate, the MREF retains a small percentage at the time of the sale, but this is not considered a commission or fee, it is considered a gift to the foundation.
I have a client who might be interested in your services. How can I get more information?Your first step is to call or email to schedule a visit with a representative from the MREF. See the Contact Us page or call Mike Burton at 1-877-253-4380 or email
mburton@realestategiving.orgWhat types of real estate are accepted by the MREF?A house or condominium. A vacation house. A commercial building. A farm, ranch or undeveloped land
What types of real estate are accepted only in certain circumstances by the MREF?
Time shares. Foreign property. Properties with mortgages greater than the equity
