Gift of Personal Residence or Farm with Retained Life Estate
How It Works
- Transfer title to personal residence or farm to the Met
- No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life
- The Met keeps or sells property after your death(s)
- No out-of-pocket cost for substantial gift to the Met
- Federal income-tax deduction for remainder value of your residence or farm
- You (and spouse) can occupy residence for life
For further assistance, please contact:
This publication was prepared by Pentera Inc., an Indiana business corporation, which is independent of the Met. Pentera is solely responsible for its content, and the Met disclaims all liability. The information is intended to introduce certain concepts, and we caution you not to rely on it for any legal, tax, or other purpose. You should obtain the advice of your own legal and tax advisors before making any gift.
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