Real Estate Gifts
More Ways to Give
Making a gift of real estate to San Bernardino Mountains Land Trust can reduce your taxes, ease the demand of owning property, and even provide you with lifetime income.
San Bernardino Mountains Land Trust accepts real estate gifts which support our work to protect the forest open space and wild life habitat in the San Bernardino Mountains.
Gifts of real estate--such as vacation homes or investment properties--which are intended to be sold by San Bernardino Mountains Land Trust to support our work can help property owners meet their financial and philanthropic goals.
Here are three ways to make this type of real estate gift to San Bernardino Mountains Land Trust, along with some of the benefits they provide:
- Making an outright gift allows you to receive the maximum charitable income tax deduction and avoid capital gains taxes.
- Giving San Bernardino Mountains Land Trust a remainder interest in your property allows you to receive a tax deduction at the time of the gift and continue enjoying the property during your lifetime.
- Establishing a charitable remainder trust (CRT) with real estate allows you to avoid capital gains taxes, obtain a tax deduction at the time of the gift, and receive income for the rest of your life.
Retained Life Estate Gifts
- Give the San Bernardino Mountains Land Trust your house and continue to live there rent-free.
- How it works:
- You transfer your residence, farm, or vacation home to the San Bernardino Mountains Land Trust subject to a life estate.
- You continue to live in the property for life or a specified term of years, while continuing to be responsible for all taxes and upkeep.
- The property passes to the San Bernardino Mountains Land Trust when your life estate ends.
Benefits:
- You receive gift credit and an immediate income tax deduction for a portion of the appraised value of your property.
- You can terminate your life estate at any time and take an additional income tax deduction.
- You have the satisfaction of making a significant gift now that benefits the San Bernardino Mountains Land Trust later.
No matter what method you choose, your gift helps permanently protect our region's extraordinary open space lands.
Additional Sample Language for Gifts of Real Estate
If you own property that you would like to donate to the San Bernardino Mountains Land Trust through your will or trust, the following paragraph, which you should share with your attorney, can be used:
["I hereby give, devise and bequeath to San Bernardino Mountains Land Trust, a nonprofit
corporation, organized and existing under the laws of the state of California, and with current business address of 2326 Fox Lane, Arrowbear Lake, California 92382, tax identification number 33-0700417, all of that certain piece, parcel or lot of land owned by me and situated at and being in the town of ___________________and more particularly described as follows: [full legal description of property].
I understand that one above-mentioned real estate may not qualify for protection under the San Bernardino Mountains Land Trust acquisition of forest open space in the San Bernardino Mountains program. If it does not qualify under that program for protection, I hereby give permission for it to be sold at the San Bernardino Mountains Land Trust sole discretion and the proceeds used as the San Bernardino Mountains Land Trust Board of Directors deems appropriate to further the purposes of the San Bernardino Mountains Land Trust."]
Please Note:
At the San Bernardino Mountains Land Trust, all unrestricted charitable gifts are used strategically to support top priorities of acquisition of forest open space in the San Bernardino Mountains. If you have a more specific purpose in mind,please contact a San Bernardino Mountains Land Trust Legacy Society representative at (909) - 939 - 0396 to ensure that we can meet your wishes. Whether you choose to restrict your gift or not, your support will help protect the forest open space in the San Bernardino Mountains Land Trust for future generations to enjoy.
Donating Conservation Land through Your Will or Trust
If you wish to donate land to the San Bernardino Mountains Land Trust through your estate, we encourage you to consider giving us the flexibility to accept the property without restrictions. When we receive the property, we will evaluate it and determine if it meets our forest open space land acquisition priorities. If is does not, we will sell the land and use the proceeds for the acquisition of forest open space we can return to the San Bernardino National Forest for permanent protection. If this is not satisfactory, then you may wish to leave your property to us with a provision that, if we are unable to provide protection, it will go to another organization with priorities and criteria for protection meeting your requirements.
The following language, which you should share with your attorney, can be used to devise property to the San Bernardino Mountains Land Trust:
I hereby give, devise and bequeath to the SBMLT, a nonprofit corporation, organized and existing under the laws of the state of California, and with business address of 2326 Fox Lne, Arrowbear Lake, California, 92382, all of that certain piece, parcel or lot of land owned by me and situated and being in the Town of ________________ and more particularly described as follows: [full legal description of property].
It is my wish the San Bernardino Mountains Land Trust preserve and protect this property in its natural state. I understand that at the time of my death, the San Bernardino Mountains Land Trust shall inspect the property to determine whether it provides habitat for any rare, endangered or threatened species that should be protected. I understand the San Bernardino Mountains Land Trust will endeavor to provide for appropriate protection for the property or any portions of the property that then contain any such species or natural characteristics and features. This may include selling the property with conservation restrictions.
EITHER:
If at the time of my death, the San Bernardino Mountains Land Trust determines that it cannot protect the property, then the San Bernardino Mountains Land Trust may sell the property unrestricted.
OR:
If at the time of my death, the San Bernardino Mountains Land Trust determines that it cannot protect the property, then I leave the property to _________________other conservation organization, if it agrees to protect it. If that organization will not protect it, then__________________[decide whether you then wish to leave it unrestricted to the San Bernardino Mountains Land Trust, or to name a third organization or beneficiary].
Of Special Note
At San Bernardino Mountains Land Trust, all unrestricted charitable gifts are used strategically to support to forest open space acquisition to return to the San Bernardino National Forest for permanent protection. If you have a more specific purpose in mind, please contact a San Bernardino Mountains Land Trust representative at [email protected]. Whether you choose to restrict a gift or not, your support will help protect the forest open space in the San Bernardino Mountains for future generations.