Gifts of real estate can be an effective means of planning a gift, depending on the circumstances that are involved. These types of gifts can include a home, farm, vacation or second home, apartment or commercial building, shopping center, or even undeveloped land.
Each piece of property and its unique circumstances must be carefully reviewed by the prospective donor and Millikin University to determine its suitability as a gift. Generally speaking, a rule of thumb is that an acceptable piece of property is one that is unencumbered.
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