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Old 12-13-2012, 05:49 PM
 
Location: The Triad
34,090 posts, read 82,988,469 times
Reputation: 43666

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Quote:
Originally Posted by High_Plains_Retired View Post
I think perhaps you have misunderstood me.
Perhaps, but I don't think so. Your statement was pretty clear:
Quote:
Originally Posted by High_Plains_Retired
A non-profit would be great if they would use it for charitable or non-profit work.
If a non-profit would be great then allow that to happen.
Even if that means they turn around and sell it... at a (gasp!) discount.

Quote:
...divesting my family's time and efforts from the property
and at the same time extract from it a reasonable value.
That's the hole I'm referring to.
Based on your statement... I don't think you can do both.
Take the charity deduction or wholesale it to an investor.
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Old 12-16-2012, 10:30 AM
 
15,446 posts, read 21,357,456 times
Reputation: 28701
After reading the replies here, and speaking to a few locals who have sold homes recently, I now know how to proceed. It's one of those things that on the surface seems like it requires a law degree but is fairly simple in most cases.

Thanks to all who offered something constructive.
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Old 12-16-2012, 02:15 PM
 
Location: The Triad
34,090 posts, read 82,988,469 times
Reputation: 43666
Quote:
Originally Posted by High_Plains_Retired View Post
I now know how to proceed.
Don't leave it there...
what did you come up with as a way to sell the house (and have it stick)?
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