Gift of Personal Residence or Farm with Retained Life Estate

Gift of Personal Residence or Farm with Retained Life Estate Diagram

How It Works

  1. Transfer title to personal residence or farm to Chum
  2. No change in your lifestyle—you (and spouse) occupy and enjoy residence or farm for life
  3. Chum keeps or sells property after your death(s)

Benefits

  • No out-of-pocket cost for substantial gift to Chum
  • Federal income-tax deduction for remainder value of your residence or farm
  • You (and spouse) can occupy residence for life

More Information

Contact Us

Gracia Swensen
Development Director
218-720-6521
gswensen@chumduluth.org

 

Chum
102 West Second Street
Duluth, MN 55802

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