Frequently Asked Questions

How does asset donation make a difference?

Asset donation makes a difference by providing valuable resources to communities in need, empowering positive change and creating a lasting impact.

What types of Property and Real Estate Asset Donations can be made?

Residential properties including; Detached single-unit housing, Semi-detached dwellings, Attached Single-unit housing, Attached Multi-unit housing, Movable dwellings, Single family housing, Apartment complex, Condominiums.
Industrial properties including; Warehouse/Distribution buildings, Manufacturing buildings, Refrigeration/Cold storage buildings, Telecom/Data hosting centers, Flex buildings, Light Manufacturing buildings, R&D buildings, Showroom buildings, Biotech (Wet Lab) buildings… You may donate any type of Mortgage that you hold a current note on.
Commercial properties including; Public houses, restaurants, cafes, sports facilities, Retail stores, shopping malls, shops, office buildings, serviced offices, office/warehouses, garages, distribution centers, healthcare medical centers, hospitals, nursing homes, hotels and motels… Properties subject to various types of leases including foreign owned properties.
Land Donations including Vacant land, Development land, Farmland, Ranch property

Jewelry, Annuities & Art.

And properties outside the United States!

What types of assets can I donate?

You can donate various types of assets including real estate, land, commerical property, art, jewlery, yatch, airpalnes, stocks, bonds, annuity and other valuable holdings. 

What do I need in order to donate?

In order to donate property, we must have written consent from any and all property owners. Your letter of intent will outline the donation terms. The title report will show the related ownership information.

How complicated is the charitable property donation process?

Donating real estate involves a process that is unique to each property, but our expertise streamlines the donation experience. Various factors come into play during this process, including potential encumbrances such as civil liens or unpaid property taxes. We strive to make the entire journey, from the initial stages to the ultimate transfer of property title, as straightforward and efficient as possible.

What Size Tax Deduction are We Talking About Here?

The magnitude of the tax deduction is calculated based on the present market value of the property, rather than its original purchase cost. For instance, if you bought the property in 1968 for $92,000 and its current value is $812,000, your tax deduction would be determined by the current market value, resulting in a potentially substantial deduction in this scenario.

How will I know if Donate Assets is willing to accept my property donation?

Once all documents and information are received, Donate Assets will assess whether the property qualifies for a charitable donation. The donor's obligations conclude at the conclusion of the acquisition process facilitated by Donate Assets.

Do I need to be present at the time of the closing?

No, at the time of the closing, all necessary paperwork has already been completed. The actual closing itself will simply be a paper transaction that occurs once all legal requirements for the transfer of you charitable donation have been completed. If in fact there are any additional issues that arise, usually in regards to the title search, all parties involved shall be properly notified. Usually if this happens, it is just a simple matter of signing additional documents and the issues can be resolved before the actual closing.

What if I am missing my deed?

You can contact the county recorder and request a copy.

What Costs can I expect to incur during the donation process and who Pays?

Reset and Align Ministry typically bears the expenses incurred throughout the process. However, exceptions exist, and there are circumstances where an agreement may be reached to share the acquisition expenses for your charitable donation. This could involve costs like title insurance, property insurance, environmental testing, probate, or other related expenses. Generally, the donor is responsible for the standard property costs until Reset and Align Ministry completes the acquisition, encompassing taxes, bills, and the mortgage. Each donation is evaluated on a case-by-case basis, allowing for flexibility in handling individual circumstances.

Can I donate real estate with a mortgage balance?

Yes. Prior to the auction, Donate Assets will determine if the likely value exceeds the mortgage balance. The proceeds from the auction sale are then used to pay off any mortgage balance. Please note: In cases where an asset doesn’t have enough equity to result in a surplus, we will not be able to accept it.

How will the tax deduction be determined?

All real estate donation tax deductions are based on the full appraised value, not the sale price. In most cases, donors may deduct the difference between the cash received and the fair market value based on an appraisal specifically completed to assess the value based on IRS guidelines. Donors may not deduct proceeds that were applied to pay off mortgages or back real estate taxes. The deduction can be carried forward up to five years following the year of sale.

*please consult your tax advisor as individual situations vary

How long does it take to complete a real estate donation?

Most property donations will be completed within 45 days. Our goal is to maximize the value of the property.

Who operates Donate Assets?

Reset and Align Ministry, a 508(c)(1) (A)nonprofit, operates the Donate Assets donation program

Can we accept real estate donations with a mortgage balance?

Yes, we can accept donations with a mortgage balance. case by case