August 20, 2009
As More Donors Offer Real-Estate Gifts, Charities Are Urged to Take Caution
As the prices of homes and property plummeted during the past year, charities began to see an uptick in offers of real-estate gifts, according to people who advise organizations on donations of property.
But those gifts sometimes come with entangled strings attached. Many offers are made by cash-strapped owners wishing to convert their valuedepleted holdings into tax deductions. Professionals who advise charities warn they should view real-estate gifts with a wary eye —
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