Home | Gift Planning | Real Estate | Gift acceptance guidelines
Real property may be accepted as an outright gift, into a charitable remainder trust or charitable lead trust, or in some cases to fund a gift annuity, subject to prior approval by KU Endowment. The review process for accepting a gift of real property starts by obtaining these items:
- copies of the property deed and of the property map or plat
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copy of the current tax assessment or similar indication of value and carrying costs
A gift of real property will be subject to the following requirements:
- qualified appraisal, obtained and paid for by the donor
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inspection by KU Endowment
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title search, paid for by KU Endowment
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minimum of level one environmental audit, paid for by KU Endowment (additional audits, if required, at the donor’s expense)
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marketability review by at least two knowledgeable brokers
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written agreement by the donor to provide additional funds, if necessary, to cover ongoing expenses and maintenance of the property until sold
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completed real estate checklist, including detailed financial information on the property
Mortgaged real property may not be accepted. Donors who own mortgaged real property are encouraged to pay off or transfer the mortgage before making the gift.
For more information on how a gift of real estate might work for you, please contact Jack Schwartz, director of gift planning for the Lawrence campus, or Nell Lucas, senior director of gift planning for the KU Medical Center. You may also contact Monte Soukup, vice president for property management, at 785.832.7435.