-- Answers to Questions About Real Estate Law
Money and real estate news you can use everyday

Real Estate Lawyer
Question of the Week
Tip of the Week
Recommended Books
Contact Sam

Purchase Of Church Property Leads To Donation

Ask the Real Estate Lawyer: Real Estate Law Q&A

REM #LAW 661

By Ilyce R. Glink and Samuel J. Tamkin

Summary: The reader is helping their church purchase a piece of commercial property. They wonder if the seller can reduce the price of the property and consider it a tax deductible donation to the church. Ilyce and Sam feel this deal might work given a willing property seller.

Q: My church is considering purchasing a piece of commercial property and using it for our new church facility.
(article continues below useful links)

The seller has one price in mind. However, we would like to make an offer on the property and allow the seller to make a contribution to the church for a portion of the sales price. This will lower the selling price for us and provide a taxable contribution to the seller.

Can we do this?

A: If you and the seller are in agreement as to price, you can structure the transaction to benefit both the seller and your church. You will, however, need a willing seller who wants to make a contribution to the church. You can’t force someone to make a donation if he isn’t inclined to do so.

Keep in mind that the structure of the transaction must be fair and at arm’s length. If the purchase price is agreed to and the seller wants to make a contribution to the church, you should be fine.

If the church has an attorney, you should consult further with the attorney on what you are planning to do.

Samuel J. Tamkin is a Chicago-based real estate attorney. Ilyce R. Glink’s latest book is 50 Simple Steps You Can Take To Sell Your Home Faster and For More Money In Any Market. If you have questions for them, write: Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact them through Ilyce’s website




RSS Feeds

RSS 0.91 Feed
RSS 1.0 Feed
RSS 2.0 Feed

Home Buying   Using Attorneys to Buy a Home - Earnest Money - Quitclaim Deeds - Easements - Seller Misreprensation - New Construction - Buying with Partners - Home Inspections - Seller Problems - Agent Issues
Home Selling    Using Attorneys to Sell a Home - Seller Disclosure laws - Title Problems - Buyer Problems - Real Estate Agent Issues - Tax Considerations
Home Ownership   Neighbor Problems - Seller Misrepresentation And Fraud Issues - Problems In a Condominium Development - Problems Around The House - New Construction Issues - Subdividing Land
Home Renovation   Architect Issues - Contractor Issues - Problems With Contractors - Inspection Issues - Certificate Of Occupancy - Municipal Inspections - Punch List Issues - Financing Issues - Installment Contracts
Real Estate  
Loan Application Problems - Refinancing Issues - Paying Off An Old Loan - Credit Problems - Seller Recommended Lender - Prepaying A Loan - Prepayment Penalties - Predatory Lenders
1031 Exchanges - Financing Investment Properties - Landlord and Tenant Issues - Partnership and Company Considerations - Tax Considerations - Subdividing Land
Contact Us | Sitemap | Terms of Use | Copyright ©2001-2005. ThinkGlink Inc. All rights reserved.
Reproduction of material from any pages without written permission is strictly prohibited.
Site design by Walker Sands Communications