A gift of real estate opens the possibility of a large gift without using liquid assets. A gift of real estate makes it possible for you to make an immediate gift and receive an immediate charitable receipt. A gift of real estate can take two options. First, an outright gift would result in a tax receipt for the fair market value of your property. The second option would be if you chose to give the gift of your property but retain the right to reside in the home. Such a gift requires that the property be irrevocably transferred to the Foundation. In this case, you would continue to pay all costs related to the property. However, you would receive a tax receipt for the fair market value of your committed gift while you are alive. The actual transfer of the property occurs when you choose.