Gifts of Real Estate Property
Making a gift of real estate property can have a significant impact on the future of health care in your community. You are helping your loved ones, your friends, your neighbours and your colleagues. You are a driver of health and prosperity. You are creating a life of good health for future generations.
Appreciated land property that is not a principal residence will attract capital gains tax when it is sold. Donors have the opportunity to instead give this property to Richmond Hospital Foundation and offset the capital gains through a charitable tax receipt. The charitable tax receipt can also be used to offset tax otherwise owing.
Prior to the Foundation being able to accept a gift of real estate and issue a charitable tax receipt, you must obtain a professional appraisal completed by a qualified third party appraiser in order to determine the fair market value of the property.
If you would like to make a gift of real estate to Richmond Hospital Foundation, please contact us in advance to discuss the details of your proposed gift.
Disclaimer: The above information is general in nature and should not be construed as legal or tax advice. We encourage you to work with your professional legal and financial advisors to make the best decision for your particular circumstances when making a planned gift.
Our Legal Name and Address
Richmond Hospital Foundation
7000 Westminster Highway,
Richmond BC, Canada V6X 2A1
Registered Charity Number:
11911 8883 RR0001
There are many different ways to make a legacy gift to Richmond Hospital Foundation including: