Charitable Bargain Sales and Retained Life Estates
With the charitable bargain sale, you sell your residence or other property to Orange Coast College at less than its fair market value. The transaction gives you cash that you can use to purchase your next home or as the entry fee for a retirement facility, plus a charitable income tax deduction for the discount you took from the market value.
We mutually agree on the purchase price for your property, and on whether we will pay you in a lump sum or through an installment note.
The bargain sale is the only gift plan that can give you both a lump sum of cash and a charitable deduction.
Another attractive gift plan for real estate is the retained life estate: you give Orange Coast College your home, then continue to live there for the rest of your life. We will own the house, but you will continue to be responsible for its ongoing taxes, structural maintenance, and upkeep. And, we mutually agree upfront about what we will do if you no longer wish to live in the house, or become physically unable to continue living there.
You will receive a charitable deduction based on the fair market value of your home minus the present value of the life tenancy you have retained.
With a retained life estate, you make a significant gift to Orange Coast College with the most valuable asset you hold, without disturbing your cash flow or your living arrangements.
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