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Updated almost 9 years ago on . Most recent reply

Account Closed
  • Investor
  • Camarillo, CA
3
Votes |
6
Posts

Southern California 7 Properties Bundle For Sale

Account Closed
  • Investor
  • Camarillo, CA
Posted

Just got off the phone with a client who is currently in negotiations with a non profit about buying 7 properties off them in Thousand Oaks, CA. He is saying that he is selling to a non profit and is not interested in selling the properties individually because of the capital gain taxes. ( sounded like their was a benefit in terms of capital gains by selling to a non profit) 

2 Questions: What are the benefits in regards to capital gains by selling to a non profit?

Thank you! 

Btw, This is my first time posting. 

Most Popular Reply

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319
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194
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Aaron Norris
  • Lender
  • California and Florida
194
Votes |
319
Posts
Aaron Norris
  • Lender
  • California and Florida
Replied

Perhaps he's setting up a charitable remainder trust or some kind of estate planning vehicle. He'll get a write off but doesn't get him out of capital gains completely. It just gets handled differently. I don't know of any California-specific legislation that allows you to SELL and get some sort of benefit. Giving it away, yes. You can do all kinds of estate planning stuff if you've got a team to guide you and a nonprofit that knows how to accept real estate. 

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