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GiftLaw Pro Home   >  Chapter 5 - Difficult Property Gifts  >  5.5 Prearranged Sales  >  5.5.2 Real Estate Sales  >  Basic Quiz

Basic Quiz - 5.5.2 Real Estate Sales

1. There are only three strategies for charities wishing to sell donated real estate.
           
2. The no-negotiation strategy involves a donor listing the property for sale, selecting a buyer and then gifting the property to the charity.
           
3. An offer by a buyer precludes transferring the property to a charity or charitable remainder trust.
           
4. If the property has been listed by the donor and offers have been made before the property is transferred to the trust, it is acceptable for the trust to accept one of the offers.
           
5. The four-day process establishes that there is no binding agreement between the prospective buyer and the donor.
           
6. A more aggressive strategy is for the charity to list the property for sale not subject to any contingencies regarding receiving the property.
           
7. Using the anticipatory listing strategy does not create a binding agreement.
           
8. The next most aggressive strategy is for the charity to enter into a sale agreement with a prospective buyer where the sale is contingent upon the charity's receiving the property in trust.
           
9. There is some risk associated with the transfer of real estate in return for a gift annuity.
           
10. Discounted charitable gift annuities, deferred payment gift annuities and "unprearranged" prearranged gift sale gift annuities are good strategies for charities to reduce risk.